Maverick Terminals LLC, subsidiary of Howard Midstream Energy Partners LLC (HEP), acquired a majority interest in the GT Omniport Terminal from GT Logistics LLC, HEP said July 29.
GT Logistics will keep a minority interest in the facility, which is near Port Arthur, Texas on 450 acres. The terminal is near refineries, chemical plants, and pipelines, and there are more than eight miles of rail, including a unit-train loop track and railcar unloading facilities. There are four storage tanks and a barge dock. The storage tank can handle 230,000 barrels. There are also more than 3,000 feet of deepwater frontage for vessel docks.
GT Omniport currently handles crude oil, but it will be expanded to receive, blend, store, and redeliver refined products and NGL. Additional storage capacity, interconnectivity to local refined products and crude oil pipelines, and up to four deepwater docks are being engineered and planned.
“We are excited to enter into this venture with GT Logistics, who have built a first-class platform for growth,” said Mark Helmke, senior vice president of terminals and transportation for HEP. “We see lots of development potential in the Port Arthur area and this acquisition is a continuation of our plan to expand our geographic presence and build a diversified portfolio of world-class assets.”
San Antonio-based Howard Energy Partners (Howard Midstream Energy Partners LLC) also owns and operates bulk liquid terminal facilities in Three Rivers, Texas, and the Port of Brownsville, Texas.
Recommended Reading
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.
US Refiners to Face Tighter Heavy Spreads this Summer TPH
2024-04-22 - Tudor, Pickering, Holt and Co. (TPH) expects fairly tight heavy crude discounts in the U.S. this summer and beyond owing to lower imports of Canadian, Mexican and Venezuelan crudes.
What's Affecting Oil Prices This Week? (April 22, 2024)
2024-04-22 - Stratas Advisors predict that despite geopolitical tensions, the oil supply will not be disrupted, even with the U.S. House of Representatives inserting sanctions on Iran’s oil exports.
Association: Monthly Texas Upstream Jobs Show Most Growth in Decade
2024-04-22 - Since the COVID-19 pandemic, the oil and gas industry has added 39,500 upstream jobs in Texas, with take home pay averaging $124,000 in 2023.
Shipping Industry Urges UN to Protect Vessels After Iran Seizure
2024-04-19 - Merchant ships and seafarers are increasingly in peril at sea as attacks escalate in the Middle East.