Texas COLT Submits Application with MARAD for Crude Oil Export Port
- Business & Finance
Texas COLT has submitted an application with the US Maritime Administration (MARAD) to construct and operate a deepwater crude oil export port located off the coast of Freeport, Texas.
The application was submitted by a proposed joint venture among Enbridge, Kinder Morgan, and Oiltankingon on January 31, 2019.
The Texas COLT project includes an offshore platform and two offshore loading single point mooring buoys. They will be capable of fully loading a 2-million-barrel very large crude carrier (VLCC) in approximately 24 hours.
The offshore facilities will be connected by a 42” pipeline to an onshore tank farm that will have up to 15 million barrels of storage capacity.
As informed, the submittal with MARAD begins the application process for Texas COLT which is planned to be in-service by 2022.
Enbridge is North America’s premier energy infrastructure company with strategic business platforms that include a network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation.
Kinder Morgan is one of the largest energy infrastructure companies in North America owning an interest in or operating approximately 84,000 miles of pipelines and 157 terminals.
Oiltanking is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of energy supply, trading and logistics.
Last year, another company, Enterprise Products Partners (EPD), unveiled plans to develop an offshore crude oil export terminal off the Texas Gulf Coast. The facility would be capable of fully loading VLCC, enabling export of crude oil to Asia and Europe.