Vopak, Magellan assessing plan for new Houston storage facility

15 July 2013 23:04  [Source: ICIS news]

Vopak, Magellan assessing plan for new Houston storage facilityHOUSTON (ICIS)--Royal Vopak and Magellan Midstream Partners are jointly looking into developing a deepwater storage and handling facility along the Houston Ship Channel for crude oil, refined products and ethanol, the companies announced on Monday.

The proposed deepwater tank storage terminal would be located on land currently operated by The Netherlands-based Vopak in Deer Park, Texas, and would consist of tanks, barge and ship docks to facilitate high-speed loading rates, the companies said in a news release.

The facility would be connected to US-based Magellan’s refined products and crude oil pipeline systems.

Financial details of the proposed plan as well as a possible timeline were not disclosed.

Vopak currently owns 8m bbl of storage capacity in the Houston area, as well as the 130 acres and associated dock location targeted for the proposed joint project.

Magellan currently has 20m bbl of storage capacity in the Houston area and a comprehensive pipeline system in the Texas Gulf Coast area.

By: Jeremy Pafford
+1 713 525 2653

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