February 19, 2014 [OPIS] - Genesis Energy LP said on Tuesday that it plans to invest about $150 million to construct a new crude oil, intermediates and refined products import/export terminal in Baton Rouge, La.
The Baton Rouge Terminal will be located on about 90 acres of land near the Port of Greater Baton Rouge (the Port) and will be connected to the Port’s existing deepwater docks on the Mississippi River. The docks are capable of berthing vessels ranging from barges to Aframax class vessels.
Genesis Energy will initially construct approximately 1.1 million bbl of tankage for the storage of crude oil, intermediates and/or refined products with the capability to expand to provide additional terminaling services to its customers.
The Baton Rouge Terminal will also be connected to ExxonMobil facilities in the area, as well as to Genesis Energy’s previously announced Scenic Station unit train-capable rail facility (Scenic Station). Shippers to Scenic Station will have access to both the local Baton Rouge refining market, as well as the ability to access other attractive refining markets via the Baton Rouge Terminal.
Following its completion, which remains on schedule for 2Q 2014, Scenic Station will provide shippers a low-cost destination rail facility dually connected to both the Canadian National Railway and the Kansas City Southern Railway, which has superb interconnectivity with the Canadian Pacific Railway.
Genesis Energy expects the Baton Rouge Terminal to be operational by the end of second quarter of 2015. Genesis Energy has entered into definitive agreements with ExxonMobil in which it has secured committed rights for a portion of the capacity at and through Genesis Energy’s proposed facilities.
Genesis Energy LP is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis Energy’s operations include pipeline transportation, refinery services and supply and logistics. The Pipeline Transportation Division is engaged in the pipeline transportation of crude oil and carbon dioxide.
The Refinery Services Division primarily processes sour gas streams to remove sulfur at refining operations. The Supply and Logistics Division is engaged in the transportation, storage and supply and marketing of energy products, including crude oil, refined products and certain industrial gases. Genesis Energy’s operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.
