Port of Corpus Christi solidifies agreement for crude oil export terminal

Through a lease agreement with Vitol Inc. and Harvest Pipeline Company, the Port of Corpus Christi will devote 22 acres to a crude oil export terminal.

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The terminal will support crude oil flow out of South Texas and the Permian Basin, to Corpus Christi and is broader market access. Harvest already maintains a pipeline system through South Texas, so the new terminal will add a new connection between that system and its Midway Junction, as well as water access for the Permian Basin supply.

“Port Corpus Christi continues to help develop maritime facilities and provide services to customers that are committed to sustainable growth, and building the future of our community,” Port Corpus Christi Executive Director John LaRue said.

The operations will broaden international exporting capabilities, and ties into the port’s desires for broadened support of industrial development.

“Crude demand, particularly in emerging markets, continues to grow and U.S. shale has an important role to play in satisfying this demand,” Mark Couling, head of Crude Oil for Vitol, said. “Our new pipeline and terminal will facilitate the efficient delivery of U.S. crude to global markets, thereby increasing marketing opportunities and optimizing value for U.S. producers.”