Lease for oil terminal development at Corpus Christi port
The approval of the Port of Corpus Christi commission paves the way for a trilateral lease agreement with Vitol and Harvest Pipeline. The lease of a 90'000 sqm tract of land will enable a crude oil export terminal to be developed on port property.
The joint development project between Harvest Pipeline, an affiliate of Hipcorp Energy Company, and Vitol, will support the increased demand of crude oil transportation from South Texas and the Permian Basin (both USA).
The Floridian port's new facility will enhance Harvest’s existing South Texas pipeline system by adding a new connection to its midway junction, and will provide waterborne access to Permian Basin crude oil going to international markets. Crude oil shippers will have access to the terminal via a 41 cm lateral pipeline. (kd)