Author Topic: Supersize Me: Moda Midstream has VLCC-sized plans for exports  (Read 755 times)

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Offline thackney

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Supersize Me: Moda Midstream has VLCC-sized plans for exports
« on: February 01, 2019, 02:07:50 pm »
Supersize Me: Moda Midstream has VLCC-sized plans for exports
https://www.houstonchronicle.com/business/energy/article/Supersize-Me-Moda-Midstream-has-VLCC-sized-plans-13579984.php
Feb. 1, 2019

 Bigger pipelines. Bigger storage tanks. Bigger ships. Bigger exports of crude oil.

Houston marine terminal operator Moda Midstream is transforming a former naval base and crude oil storage terminal in this small coastal city near Corpus Christi into a hub for supertankers. The move comes as pipelines from the Permian Basin and Eagle Ford Shale are nearing completion to move record amounts of crude oil and natural gas liquids to destinations along the Gulf Coast.

“We’re trying to start and write a new chapter of the book at Ingleside,” Moda Midstream CEO Bo McCall said at facility’s recent grand opening. “Once a base for projecting naval power, now it is a key energy hub in the Gulf Coast.”

Located near the confluence of the Corpus Christi and La Quinta ship channels, the 900-acre Ingleside facility was acquired by Moda from Houston oil company Occidental Petroleum for an undisclosed price in August. Moda has spent the last five months upgrading the docks, adding storage tanks and installing equipment to accommodate Very Large Crude Carriers, or VLCC tankers.

Ranked among the largest tankers in the world, VLCCs can hold up to 2 million barrels of crude oil, making them attractive to exporters because moving so much crude in one shipment lowers transportation costs. The Houston company plans to invest between $300 million and $500 million to develop its Ingleside export complex....
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