Funding Secured for Construction of Permian-to-Gulf Oil Pipeline
HOUSTON – Midstream company Jupiter secured a funding commitment from Charon System Advisors that would enable it to build the 1MMbpd capacity Jupiter Pipeline from the Permian Basin to the Port of Brownsville, Texas.
In addition to the Jupiter Pipeline, the company is constructing a crude upgrading, processing and export terminal capable of loading VLCCs on 270 acres of land located in the Port of Brownsville, Texas, Jupiter said.
Expected to be operational late in the third quarter of 2020 and originating near Midland, Pecos and Crane, Texas, the pipeline will have off-take points near Three Rivers, Texas.
Jupiter has completed engineering, design, and right-of-way planning for the pipeline, the company said. As designed, it will be the only pipeline out of the Permian Basin that can access all three deep water ports in Texas (Houston, Corpus Christi and Brownsville) and will have direct access to a fully capable very large crude carriers (VLCC) loading facility.
Charon’s investment comes on the heels of Jupiter announcing in May that it had secured all initial governmental and regulatory permits to load and unload vessels of up to 65,000 deadweight tons or Panamax-sized vessels at the Jupiter Export Terminal.
Jupiter had already secured permits to construct more than 2.8 million barrels of storage in Brownsville and has additional permits on file to increase its storage footprint to more than 6 million barrels of the potential 10 million barrels of storage capacity.
The company is also in the final stages of securing a permit to construct a 170,000-bpd facility to process light U.S. Shale crude into on-spec U.S. gasoline and ultralow sulphur diesel.
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