Enterprise Products Partners has announced its plan to develop an offshore crude oil export terminal offshore the Texas Gulf Coast.
The terminal will be equipped to fully load Very Large Crude Carriers (VLCC), which have capacities of approximately 2 million barrels.
As part of the project development, the firm has already commenced front-end engineering and design (FEED) and preparing applications for regulatory permitting.
Enterprise said that the terminal will provide efficient and cost-effective solution to export crude oil to the international markets in Asia and Europe.
The project, based on initial designs, could include approximately 132km of 42in diameter pipeline to an offshore terminal, which is capable of loading and exporting crude oil at approximately 85,000 barrels per hour.
Enterprise general partner chief executive officer A J Jim Teague said: “On the heels of our second successful loading of a VLCC at the Texas City terminal, we are now planning to expand our capabilities to load crude oil faster and more cost efficiently without the need for lightering vessels.
“Given the long-term outlook for growing supplies of U.S. crude oil production, increasing global demand requiring super tankers, and the future limitations of Gulf Coast port and lightering capacities, we are confident this project will be embraced and supported by both domestic and international customers.
“In addition to our best in class reliability, Enterprise’s crude oil supply aggregation capabilities of over 4 million barrels per day, including from the Permian, Cushing, Eagle Ford and numerous third party connections, provide unmatched diversification, supply and quality optionality for international markets.”
Enterprise plans to make final investment decision on the project, subject to receiving the required state and federal permits and customer demand.
Currently, the firm is completing the second partial loading of a VLCC tanker at its jointly owned Seaway marine terminal in Texas City.
Enterprise Products Partners provides midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.