Corpus Christi is a major strategic hub for Trafigura.
Texas Gulf Terminals’ parent company Trafigura U.S. Inc.’s investments throughout Texas are designed to move more crude oil from fields in the Permian Basin to ships in Corpus Christi for export, providing economic benefits to parties throughout the supply chain from West Texas to the Gulf Coast. According to the International Energy Agency, U.S. crude oil export capacity is expected to more than double to about 4.9 million barrels per day, with Corpus Christi emerging as the main export hub in the Gulf Coast. Trafigura is proud to play a role in helping to facilitate that transformation, which is good for Corpus Christi, good for Texas, and good for the United States.
Trafigura is a market leader in exporting U.S. crude to international markets. In 2017, we exported around 87,000 barrels per day. We continue to make investments to ensure the massive potential of U.S. shale resources can continue to be developed and delivered to their optimal markets.
Trafigura been a longstanding customer of the Port of Corpus Christi, where we have invested in export terminals and two condensate splitters.
Corpus Christi is a critical hub in a wider economic footprint that reaches across the state of Texas.
The Texas Gulf Terminals Project is the latest of a series of long-term investments that Trafigura has made in communities across the U.S., including a nearly $1 billion investment in the premier marine export terminal and condensate splitter in Corpus Christi, now majority-owned and operated by Buckeye Texas Partners (BTP). In 2015, BTP commissioned a state-of-the-art condensate splitter which makes the 50,000 barrel per day processing facility the second standalone splitter to be completed in the United States. The Corpus Christi facility has the ability to store six million barrels of varied energy products. In addition, the terminal’s LPG export facility (1 of only 4 in the U.S.) is helping the United States consolidate its position as the world’s largest LPG exporter.
These terminals and splitters in Corpus Christi enable Trafigura to process up to 100,000 barrels per day of domestic U.S. crude oil, much of it produced in the Permian and Eagle Ford Basins. As the Permian continues to be the growth engine of U.S. production, Trafigura continuously invests in expanding infrastructure options out of the Basin, including a recent agreement with pipeline operator Plains All American Pipeline supporting the Cactus pipeline from Midland in the heart of the West-Texas Permian producing region.
Texas Gulf Terminals will provide the infrastructure to load VLCCs, currently absent in Corpus Christi.
Current facilities in Corpus Christi lack the capacity to fully load very large crude carriers (VLCCs), the optimal vessel to service export markets for U.S. crude oil. Numerous infrastructure projects underway in Corpus Christi, including the Texas Gulf Terminals Deep Water Port, are working toward addressing the infrastructure bottleneck and increase export capacity.
Texas Gulf Terminals’ Deep Water Port will transport crude oil via pipelines to a single point mooring buoy system (SPM) off the coast in the Gulf of Mexico where VLCCs and other tankers will be able to safely, directly and fully load their cargo. Once constructed, this globally-proven technology, already placed in service in different locations around the world, will ease infrastructure barriers to crude oil exports, ensure that more barrels flow to Corpus Christi for export, and support local jobs.
Trafigura looks forward to continuing a successful relationship with the Port of Corpus Christi.
As a longstanding customer of the Port of Corpus Christi, Trafigura is committed to remaining a part of the Port and the city’s continued success.