Gravity Midstream’s subsidiary Gravity Midstream Corpus Christi, LLC, has closed on the acquisition of a 44 acre crude oil logistics terminal located on the Corpus Christi Ship Channel in the heart of the area’s refining centre.

 

The fully permitted facility will serve traders, producers and refiners of crude oil and condensate produced in the Eagle Ford Shale and the Permian Basin. Gravity expects to bring the terminal into service in September 2015 under the name Gravity Oil Terminal at Corpus Christi (GOTAC).

 

“We are excited to take ownership and begin the process of commissioning and expanding this unique facility,” said Gravity Midstream president Arthur J Brass. “The GOTAC Terminal is a logistically advantaged facility that provides a significant outlet for oil produced in the Eagle Ford and Permian areas and will soon offer storage, processing and throughput service via all four major modes of connectivity: pipeline, deep water, truck and rail.”

 

Existing infrastructure at GOTAC includes 800,000 barrels of tankage with access to an additional planned 2 million barrels of storage capacity, deep water dock access, a crude processing unit (CPU) with current capacity to process up to 25,000 bpd of heavy crude, and rail and truck loading and unloading facilities. Gravity expects to convert the CPU into a 35,000 bpd condensate stabiliser or condensate splitter. If customer demand is sufficient, Gravity will build a second stabiliser or splitter, enabling it to process up to 100,000 bpd at GOTAC.

 

 

15th June 2015