December 6, 2011 [Reuters] - NuStar Energy, one of the nation's largest pipeline and terminal operators, said it sees the St. James oil hub in Louisiana becoming a "second Cushing".
In a conference call, the company said it already has a significant exposure to storage tanks at the hub, which is the loading point of Light Louisiana Sweet crude.
It has finished phase one of the expansion for two customers of about 125,000 barrels and will add another 125,000 to 150,000 barrels of storage there, reaching about 75 percent of refinery operations on the U.S. Gulf Coast.
