April 12, 2018 [Nasdaq] - Buckeye Partners, L.P. ("Buckeye") and Trafigura Trading LLC, ("Trafigura"), a wholly-owned subsidiary of Trafigura Group Pte Ltd, today announced the first shipment of crude oil by Suezmax tanker from the Buckeye Texas Hub terminal located along the ship channel in the Port of Corpus Christi, Texas, U.S.
Recently completed modifications allow the terminal to berth Suezmax class vessels, enabling an incremental 1 million barrels of crude oil to be exported each month from the terminal. The Suezmax Mt Astra, which finished loading at the terminal on March 31, was chartered by Motiva Enterprises LLC, headquartered in Houston, Texas.
“Buckeye Texas Hub has become a premier location providing marine terminal services, allowing growing U.S. energy exports access to global markets,” said Khalid Muslih, Executive Vice President of Buckeye and President of Global Marine Terminals.
“We are very excited to have reached this milestone and look forward to additional opportunities to partner with Trafigura to further expand the terminal’s capabilities and serve the region’s rapidly growing energy production.“
“North American supplies have launched the U.S. onto the world stage as a new crude provider. Upgrading the terminal’s deep-water docks at Corpus Christi will help us to meet the growing demand for this product from European refineries and Far East refineries and petrochemical plants,” said Corey Prologo, Head of Oil Trading and Director for Trafigura North America.“
The terminal is operated and 80% owned by Buckeye and 20% owned by Trafigura, with Trafigura retaining exclusive throughput rights. It has approximately 7 million barrels of storage capacity for liquid petroleum products, including a refrigerated and compressed LPG storage complex, pipeline connectivity for receiving crude oil and condensate production from the Permian and Eagle Ford shale plays, five vessel berths, including three deep-water berths and the capability to accommodate Suezmax class tankers, and two 25,000 barrels per day condensate splitters.
These capabilities allow Trafigura the maximum flexibility to market the full portfolio of crude and products to customers as near as the Caribbean and Latin America and as far afield as China.
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