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Oiltanking Partners plans Beaumont expansion project

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.

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