News Post
Enbridge withdraws application for COLT offshore oil export terminal in the Gulf of Mexico
Enbridge of Canada announced this week that it has chosen to set aside its plans for its Crude Offshore Loading Terminal (COLT) in the Gulf of Mexico with the withdrawal of its 2019 application to the US Maritime Administration (MARAD), effectively ceasing the development of this project.
This decision comes about a month after Enbridge joined Houston’s Enterprise Products Partners in its planned Sea Port Oil Terminal (SPOT) on the Texas Gulf Coast, where Enbridge is now expected to focus its attention. The SPOT terminal is more advanced in its development than the COLT terminal was, as it has long term agreements with Chevron already in place.
With a glut of oil expected to be exported in the months and years to come, several terminal projects have been working to get established in the region to accommodate this process. These terminals are designed to support Very Large Crude Carriers (VLCC) that can carry 2 million barrels of crude per shipment, so the number of terminals needed is dependent upon how much growth is seen in U.S. exports.
The COLT project is still a possibility for eventual completion, as Enbridge has stated it would consider refiling its application should demand call for it.
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