April 2019, Vol. 246, No. 4
Global News
Moda Looks at 2nd Supertanker Berth to Handle 3 New Pipelines
Moda Midstream LLC is considering building a second berth at its Ingleside, Texas, crude export terminal to accommodate supertankers, the company’s chief executive, Bo McCall, said.
The expansion to the terminal that loads oil tankers will come as three major pipelines open in the second half of this year. Moda is also increasing the facility’s crude storage capacity from 2 million to 12 million barrels.
“When these new pipelines come online, there is going to be close to 3.5 million barrels a day coming into the market,” McCall said. “Demand is very strong. And we’re working very fast.”
Moda will decide if it will modify one of its berths to accommodate supertankers within three months. If the plan goes forward, the company could bring the berth into service in about nine months, McCall said. Moda is also studying the feasibility of building an additional pier with two more berths, he said.
U.S. crude exports hit a record 3.36 MMbpd in late February, according to EIA, as a shale boom lifted production to 12.1 MMbpd.
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