Bluewater Texas Terminal
Phillips 66 and Trafigura Group Pte. Ltd. have formed a 50/50 joint venture, Bluewater Texas Terminal LLC, to build an offshore deepwater port project consisting of up to two single- point mooring (SPM) buoys. The Bluewater Texas SPM project will be strategically located approximately 21 miles offshore from the Port of Corpus Christi in deepwater to allow for the safe and environmentally responsible loading of crude tankers, including very large crude carriers.
Trafigura is a global, privately-held physical commodity trading and logistics company with offices in Houston and is one of the Port of Corpus Christi's largest users of its facilities. Houston-based Phillips 66 is an experienced operator of SPMs, having operated such a facility in the United Kingdom since the early 1970s.
"We salute Phillips 66 and Trafigura for agreeing to partner in a single-point mooring export facility and for recognizing the port as an integral part of the success of this ambitious yet much-needed capability," said Sean Strawbridge, CEO of the Port of Corpus Christi.
Phillips 66 submitted its application to the Maritime Administration (MARAD) for a deepwater port license under the Bluewater Texas franchise in mid-2019. Trafigura has withdrawn its application, submitted in mid-2018, to the U.S. Department of Transportation for a MARAD deepwater port license to develop an offshore terminal called Texas Gulf Terminals near the Padre Island National Seashore. A reduction in SPM projects has occurred in other areas of the Texas coast, likely as a measure of capital discipline and market forces.
"The Port of Corpus Christi welcomes Phillips 66 and Trafigura. This project is indicative of the need for additional U.S. and Texas energy export infrastructure, and we couldn't be more thrilled by these two reputable companies joining forces," said Charles W. Zahn Jr., chairman of the Port of Corpus Christi Authority Commission.
For more information, visit https://portofcc.com or call (361) 882-5633.
