America's Biggest Oil Hub is Growing
https://www.rigzone.com/news/wire/americas_biggest_oil_hub_is_growing-05-jun-2019-158994-article/June 05, 2019
...The U.S. petroleum industry is planning to build about 4.8 million barrels of storage capacity and as many as seven new pipelines to move oil to and from the hub. The growth is a reminder of Cushing’s significance as a key trading hub for U.S. and Canadian crudes despite booming exports, according to speakers at last week’s Crude Oil Quality Association meeting in Oklahoma City.
Companies are building up Cushing, the delivery point for West Texas Intermediate futures, even as pricing in Houston is growing in importance for overseas markets. U.S crude exports reached 3.6 million barrels of crude per day during the week ended February 15, the highest since Washington ended restrictions in late 2015.
Six pipeline projects have been planned to move about 2 million barrels a day of crude away from Cushing by the end of 2021, but it’s unlikely they’ll all get built, according to Hillary Stevenson, Genscape Inc’s director of oil market business development. A more conservative estimate would be close to 750,000 barrels a day of new outgoing capacity, she said....
Cushing Exit Pipes Projects
Project - Type - Destination - Target - Capacity in b/d
Gladiator - New - Houston, Texas - Q 2020 - 300K
Diamond - Expansion - Memphis, Tenn./Capline - 3Q 2020 - 200K
Voyager - New - Houston, Texas - 4Q 2020 - 250K
Red Oak - New - Corpus Christi, Houston & Beaumont in Texas - 4Q 2020 - 400K
Seahorse - New - St. James & Plaquemine, Louisiana - 3Q 2020 - 800K
Marketlink - Expansion - Houston & Beaumont, Texas - TBD - TBD
Red River - Expansion - Longview, Texas - TBD - 85K