Magellan Midstream Partners and LBC Tank Terminals have announced plans to increase Seabrook Logistics’ crude oil and condensate storage and dock capabilities in the Houston Gulf Coast area.
Seabrook Logistics, owned 50/50 by subsidiaries of Magellan and LBC, plans to construct nearly 700,000 barrels (111,000 cbm) of additional crude oil and condensate storage in Seabrook, Texas as well as a new Suezmax dock with up to a 45-foot draft (14m) and approximately 400,000 bpd of dock capacity.
Following completion of the announced expansion, Seabrook Logistics will own approximately 3.1 million barrels (490,000 cbm) of storage, deep water access through an Aframax dock and a Suezmax dock and connectivity to Magellan’s Houston crude oil distribution system, providing it access to multiple inbound crude oil pipelines.
This latest expansion is estimated to cost approximately $120m, shared equally by Magellan and LBC, and is expected to be operational by late 2019, subject to receipt of all permits and approvals.
If the facility were fully built out, Seabrook Logistics would have up to 5.5 million barrels (870,000 cbm) of storage capacity and a total dock capacity of at least 700,000 bpd, with options to further increase dock throughput capacity.
For more information, visit: www.lbctt.com
2nd August 2018