News Post
Trafigura joins forces with Phillips 66 for new Gulf Coast export terminal
Trafigura of Geneva announced last week that it formed a joint venture with U.S. refiner Phillips 66 for the addition of a major deep-water export terminal near the Corpus Christi port, just after withdrawing its own plans for the Texas Gulf Terminals project.
This jointly owned project named the Bluewater Texas Terminal will consist of two single point mooring buoys with the capacity to load 2 million barrels of oil each to Very Large Crude Carriers (VLCCs). Phillips 66 first proposed this terminal last July among a crowded field of proposed projects. With Trafigura abandoning its own terminal plans and joining this venture, the partners hope to have this terminal operational by 2021 to take advantage of an abundance of domestic shale production.
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