Enterprise sets to sell stake in the Port of Corpus Christi export terminal
U.S. pipeline operator Enterprise Products Partners LP is set to sell its 50% interest in the recently-completed South Texas crude export terminal.
The company will sell its stakes in Eagle Ford Terminals Corpus Christi LLC export terminal located at the Port of Corpus Christi in Texas. The facility is jointly developed by Enterprise and Houston pipeline operator Plains All American Pipeline LP in 2015.
The terminal facility includes four storage tanks that can hold more than 5 million barrels of crude oil and condensate. The facility dock can accommodate Suezmax or Aframax-sized tankers, which can hold up to 1 million barrels of crude oil in a single shipment. But once a project to deepen and widen the Corpus Christi Ship Channel is complete, the export terminal would be able to accommodate VLCC tankers.
Enterprise has hired RBC Capital Markets LLC to advise on a sale of the infrastructure asset at an undisclosed amount.
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