Oiltanking Partners to expand Houston LPG dock terminal

06 March 2013 16:16  [Source: ICIS news]

HOUSTON (ICIS)--Oiltanking Partners plans to invest $44m (€34m) to expand its liquefied petroleum gas (LPG) import/export terminal on the Houston Ship Channel, the tank storage and services company said on Wednesday.

Oiltanking said it would construct a new vessel dock and add infrastructure to existing docks, "with the capability of handling significantly more LPG vessels at multiple docks."

As part of the expansion, the terminal’s loading capacity for low-ethane propane would increase from about 4m bbl/month to about 7.5m bbl/month, it said.

The company expects to complete the expansion by the end of 2014.

“This dock expansion project will provide incremental loading capacity and position us well to capitalise on the robust international demand for LPGs," CEO Anne-Marie Ainsworth said.

Oiltanking also said that under an amended agreement with US midstream energy firm Enterprise Products Partners, it will provide vessel-based LPG import and export services on the Houston Ship Channel exclusively to Enterprise.

Oiltanking Partners is part of Germany-based Oiltanking Group, one of the world’s largest independent tank storage providers for petroleum products, chemicals and gases.

In related industry news on Wednesday, US midstream energy firms Williams and Boardwalk said they were considering a new export LPG terminal and related facilities on the Gulf Coast.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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