LOOP is the largest private storage facility in the U.S. with 53 million barrels of underground storage through 8 caverns. It also has an above-ground tank farm that can hold 7.2 million barrels. Rollins said LOOP is considering the construction of further tanks. “We have been talking to people over the past couple of months to see if there is additional interest for people needing their own tankage,” Barb Hestermann, business development representative for LOOP, told Dow Jones Newswires.
Louisiana Offshore Oil Platform (LOOP) is looking to expand storage capacity
12.11.2009 - NEWS
December 8, 2009 [Dow Jones Newswires] - The Louisiana Offshore Oil Platform is soliciting offers to build additional oil storage, Dale Rollins, vice president of business development for LOOP, said Tuesday. "LOOP in the future will start another project to expand its tank farm," Rollins said in an online seminar introducing the New York Mercantile Exchange's new sour crude futures contract, which uses LOOP as its delivery point.
