Port of Corpus Christi and Carlyle Group to develop crude oil export terminal

The Port of Corpus Christi Authority has entered into an agreement with private equity firm The Carlyle Group to develop a crude oil export terminal on Harbor Island in the US state of Texas.

The terminal would be the first onshore location in the US capable of providing export service to fully-laden very large crude carriers (VLCCs).

The terminal would include the development of at least two loading docks on Harbor Island as well as crude oil tank storage inland across Redfish Bay on land secured by Carlyle.

The project also includes dredging activities to bring fully-laden VLCCs to Harbor Island, which has a main channel depth of 22 metres.

The terminal is expected to be operational in late 2020.