Houston pipeline operator Enterprise Products Partners and Canadian pipeline operator Enbridge have released a statement to say they “remain committed to developing a joint venture project known as the Sea Port Oil Terminal (SPOT).”
The offshore crude oil export terminal will be able to accommodate Very Large Crude Carriers, (VLCCs), capable of hauling 2 million barrels of crude oil in a single shipment.
Enterprise and Enbridge stand by the project at a time when the coronavirus pandemic has cut global demand for crude oil, created a supply glut and caused prices to plummet.
SPOT, a federal permit from the Maritime Administration, or MARAD, is required before the offshore terminal and the onshore Oyster Creek Storage Terminal can be built.
Working to review SPOT’s application under a one-year clock that has been complicated due to the coronavirus pandemic according to the Houston Chronicle, so they are extending a public comment period for the project is being extended until May 31, 2020.
For more information visit www.enbridge.com