Magellan Midstream Partners LP will construct a new high-capacity marine terminal for refined petroleum products along the Houston Ship Channel in Pasadena, Texas, the company said July 14.
Products handled will include various grades of gasoline and diesel fuel, and renewable fuels.
Magellan initially plans to build a terminal with capacity for 1 million barrels (MMbbl) of refined products and ethanol storage on almost 200 acres of recently acquired land, and a new marine dock capable of handling Panamax-sized ships or barges with up to a 40-ft draft. The facility could be expanded to include up to 10 MMbbl of storage and up to five docks, including the potential for Aframax-sized vessels with a draft up to 45 ft.
The Pasadena terminal project will cost about $335 million, including the acquisition of land.
Subject to receipt of necessary permits and regulatory approval, the terminal will likely become operational in early 2019.
Magellan is also constructing a 36-inch pipeline between its existing Galena Park, Texas, terminal and this new terminal.
The company said it is also connecting its existing 18-inch pipeline that runs from Texas City, Texas to Pasadena to the new facility, and is also developing opportunities for additional connections to third-party refineries, pipelines and terminals within the Gulf Coast region.
Magellan Midstream Partners LP is based in Tulsa, Okla.
Recommended Reading
Murphy Oil Names Eric Hambly as President, COO
2024-02-08 - Murphy Oil has promoted Eric M. Hambly to president and COO and E. Ted Botner to executive vice president. Both will continue to report to CEO Roger W. Jenkins.
Flame Acquisition Holders Approve Merger with Sable Offshore
2024-02-14 - The business combination among Flame Acquisition Corp., Sable Offshore Holdings and Sable Offshore Corp. will be renamed Sable Offshore Corp.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.
W&T Offshore Adds John D. Buchanan to Board
2024-04-12 - W&T Offshore’s appointment of John D. Buchanan brings the number of company directors to six.