Americas News
New Houston Ship Channel Storage Facility Under Consideration
Magellan Midstream Partners, L.P. [NYSE: MMP] (Magellan) and Royal Vopak (Vopak) say they are jointly studying the feasibility of a deep water storage and handling facility along the Houston Ship Channel in the U.S.
The facility, to be located on land in Deer Park, Texas in the Gulf Coast area, would store and handle crude oil, refined products, and ethanol.
It would also provide barge and ship docks to facilitate high-speed loading and offer access to the Houston Ship Channel's rail and truck access, as well as connections to Magellan's pipelines for refined products and crude oil.
U.S.-based Magellan owns the longest refined petroleum products pipeline system in the U.S. and has a capacity of more than 80 million barrels of storage space for petroleum products.
Vopak, which is based in the Netherlands and has operations worldwide, owns 8 million barrels of storage capacity in the Houston area, focused mainly on the chemical industry.
With shale oil development growing in Texas, Kinder Morgan Energy Partners L.P. [NYSE:KMP] (Kinder Morgan) also announced this spring that it would expand its storage capacity and build a new barge dock at the Houston Ship Channel.
