Port Corpus Christi’s Commissioners have approved a lease agreement with CCI Corpus Christi Infrastructure (CCI) for constructing and operating a marine terminal facility.
A new oil dock will play a vital role in the export of US crude oil, condensate and refined petroleum products.
The decision, made on March 20, 2018, will result in the port dedicating approximately 55 acres of land on the north side of the Corpus Christi Ship Channel in the Inner Harbour to the new terminal.
Under the terms of the Lease Agreement, the port will construct ‘Oil Dock 22’, with CCI installing the loading arms, handling equipment, storage tanks and other facilities.
The Port will dredge a berth to accommodate Suezmax tankers at Oil Dock 22 and CCI will have exclusive use of the Dock 22 berth.
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As the leading US crude oil export port and a major economic engine of Texas and the nation, Port Corpus Christi is the fourth largest port in the US for total tonnage.
From 2016 to 2017, the Port’s crude oil exports increased by 267%, from an average of 83,488 barrels per day (BPD), to 306,334 BPD.
Charles W. Zahn, Chairman Port Commission, said: “This lease agreement aligns with the Port’s vision to be the Energy Port of the Americas and the strategic plan goal by supporting the infrastructure developments necessary to move increasing volumes of US-produced energy toward global markets.
“We look forward to expanding the business at the Port and continue to build a mutually beneficial relationship with CCI.”
John Wang, Managing Director in the Strategy/Principal Investment Group of Castleton Commodities International, commented: “This initiative is the outgrowth of CCI’s long-standing relationship with the Port of Corpus Christi.
“We find the prospect of promoting energy producer access to global markets to be exciting.”