CORPUS CHRISTI, Texas — Phillips 66 and Trafigura Group Pte. Ltd are joining forces with Bluewater Texas Terminal LLC, otherwise known as "Bluewater Texas".
The joint venture is aimed to build an offshore deepwater port project consisting of up to two single point mooring (SPM) buoys.
"The Bluewater Texas SPM project will be strategically located approximately 21 miles offshore from the Port of Corpus Christi in deepwater to allow for the safe and environmentally responsible loading of crude tankers, including Very Large Crude Carriers or 'VLCCs'," stated officials.
Trafigura is a global trading and logistics company with offices in Houston and is one of the largest users of the Port of Corpus Christi.
Another Houston based company, Phillips 66, has a history of operating SPMs, specifically a facility in the United Kingdom for nearly 50 years.
“We salute Phillips 66 and Trafigura for agreeing to partner in a single point mooring export facility, and for recognizing the Port as an integral part of the success of this ambitious yet much-needed capability,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.
"Phillips 66 submitted its application to Maritime Administration (MARAD) for a Deepwater Port License under the Bluewater Texas franchise in mid-2019. Trafigura has withdrawn its application submitted in mid-2018 to the U.S. Department of Transportation for a MARAD Deepwater Port License to develop an offshore terminal named Texas Gulf Terminals near the Padre Island National Seashore. The reduction in SPM projects has occurred in other areas of the Texas coast, likely as a measure of capital discipline and market forces," added officials.
The Port of Corpus Christi will work very closely with Bluewater Texas and its representatives to build a strong infrastructure for the export of crude oil to global markets which has a direct impact on Corpus Christi and the regional economy.
“The Port of Corpus Christi welcomes Phillips 66 and Trafigura. This project is indicative of the need for additional U.S. and Texas energy export infrastructure and we couldn’t be more thrilled by these two reputable companies joining forces,” said Charles W. Zahn, Jr., Port of Corpus Christi Authority Commission Chairman.
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