Mercuria Energy Group and Dauphine Midstream joint venture Pin Oak Holdings has acquired 236 acres near its terminal in Corpus Christi to further expand its operating capabilities, including Suezmax tanker loading on the Corpus Christi Ship Canal.
The newly acquired site is adjacent to the Kansas City Southern main rail line and Corpus Christi rail yard and can accommodate more than 10M barrels of bulk liquids storage, and construct and operate a full unit train solution.
Pin Oak plans to connect the site through a short distance pipeline to its main site on the Corpus Christi Ship Channel.
“We are excited to be expanding our footprint through this acquisition which will bring incremental tankage and logistics solutions to our customers,” said Pin Oak Holdings chief executive Mike Reed. “Pin Oak is in a unique position to offer its customers a full logistics solution through its direct refinery connections, Suezmax vessel and barge dock capabilities, truck loading and unloading bays, and direct access to two Class 1 railroads.”
Pin Oak’s main terminal is currently under construction, with brownfield expansion of more than 2M barrels of crude storage, all supported by long-term third-party customer contracts.
The connection into the Gray Oak Pipeline is under construction and the terminal will be a necessary outlay for Permian and Eagle Ford shale crude oil flows.
US shale oil exports are booming, especially to Europe, but the shale crude oil is said to be missing the essential elements of the middle of the barrel for distillation into a IMO 2020 compliant low sulphur marine fuel. Hear more at the Sulphur Cap 2020 Conference, Awards and Exhibition in Amsterdam on 8-9 May 2019