Oiltanking Partners plans Beaumont expansion project

|About: Oiltanking Partners L.P. (OILT)|By:, SA News Editor

Oiltanking Partners (OILT) announces plans for a ~$340M expansion project to construct new crude storage, pipelines and dock infrastructure at its terminal in Beaumont, Tex.

The multi-phase crude expansion will have a total capacity of up to 6.2M barrels of storage; OILT says the initial phase of the project is fully supported by customer commitments.

As much as 3M bbl/day of crude could flow to the Beaumont/Port Arthur market once various pipeline projects are in service, driving strong demand for additional storage, pipeline connectivity and deep water access.