EPIC Midstream New CEO Targets Year End for U.S. Crude Export Operations
HOUSTON (Reuters) - EPIC Midstream Holdings LP has begun filling a new 400,000 bpd oil pipeline that stretches from the Permian Basin to the U.S. Gulf Coast.
The newly appointed CEO, Brian Freed, was announced on Monday and said in an interview that the company will begin exporting from its own South Texas terminal by the end of this year.
The San Antonio pipeline operator has begun construction on a second dock at its export terminal in Corpus Christi, Texas, that next year will be capable of loading tankers that carry up to 1 million barrels, known as Suezmax tankers, Freed said.
In the third quarter, EPIC will make the first deliveries on one of three new pipelines helping to ease a crude oil bottleneck that has weighed on prices in the Permian of West Texas and New Mexico for more than a year.
Crude flows will ramp up each month after the start of interim service as the company adds more storage tanks in the Permian and its facilities at Gardensdale and Robstown, Texas.
"We'll have tanks coming on every month," Freed said. "We'll be bringing on different tankage at different locations all along the way."
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