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July 18, 2016 Comments Off on Magellan Commits to $335M Houston Ship Channel Terminal Views: 1986 California News, Houston-Galveston, National News, Oklahoma, Southwest, Texas News

Magellan Commits to $335M Houston Ship Channel Terminal

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Magellan Midstream Partners LP, headquartered in Tulsa, OK, has announced its intent to build a marine terminal on 200 acres along the Houston Ship Channel, located in Pasadena, TX. The project, including land acquisition, is anticipated to cost $335 million, and is expected to be operational by early 2019.

The project includes 1 million barrels of storage for refined petroleum products and ethanol, with expansion capabilities of up to 10 million barrels and five docks. The plan also includes a marine dock to accommodate Panamax-sized ships and barges.

“Demand for refined products export capabilities from the Gulf Coast continues to grow, and Magellan is well-positioned to take advantage of these opportunities due to our extensive pipeline and terminals network,” CEO Michael Mears said in a statement.

Read More at Magellan Midstream

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