09-05-2012
Petroplex to commence development of multimodal liguid terminal in St James, Louisiana
Petroplex International, L.L.C, a development company of bulk liquid storage tank terminals based in Baton Rouge, along with a consortium consisting of Macquarie Group, through its Macquarie Capital division, Quanta Services Inc and individual investor Mr. Harley Franco, CEO and founder of Harley Marine Services Inc., today announced that it has raised capital to progress the development of a $600 million multi-modal bulk liquid terminal in St. James Parish with a projected initial storage capacity of 4 – 6 million barrels.
Petroplex will build a storage and distribution terminal for crude oil, refined petroleum products, fuel oil, chemicals, agrichemicals, renewable fuels, and other commercial liquid commodities and will provide in-tank blending capabilities throughout the facility. The initial phase of the project includes the design, engineering, development, and operation of a state-of-the-art storage terminal that is capable of receipt or delivery between a variety of intermodal systems, including trucks, railcars, marine barges and ocean-going vessels, and connections to the existing and future pipeline infrastructure systems. Once completed, the project will be the only dedicated independent “for-hire” terminal services company serving the growing St. James crude and refining market.
“We are pleased to announce that we are ready to advance the development of this much-needed project through to completion,” said Mark Helmke, President and Chief Operating Officer, Petroplex. “The development team has done an excellent job in getting the project to this stage. With our consortium partners Macquarie Group, Quanta Services and Mr. Franco, we are positioned to promptly deliver an important infrastructure solution to a high-demand market.”
“The substantial increase in crude oil production from domestic shale formations and Canadian oil sands is rapidly changing North American product supply flows and requires new infrastructure to accommodate its storage,” said Mr. Helmke. “The St. James region is expected to significantly benefit from new production and crude supply shifts. We believe that Petroplex is in an ideal location to provide terminal services for the seamless movement and storage of all commercial liquid commodities. The Project is strategically located in close proximity to key intermodal infrastructure, waterways, refineries and manufacturers and will provide a unique storage solution to producers.”
Construction is expected to commence during the first half of 2013, and the facility is expected to begin commercial operations during 2014.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Worley awarded Bayou Bend CCS carbon capture and storage facility contract
We’ve been selected to design and evaluate CO2 gathering, handling and sequestration facilities located along the Gulf Coast in Southeast Texas. Bayou Bend ...
13-05-2024
-
Black & Veatch delivers feasibility study for Andes Energy LNG Terminal
Global liquefied natural gas (LNG) infrastructure solutions leader Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, LNG regasification ...
09-05-2024
-
Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC
Shell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company ...
08-05-2024
-
Integrated Global Services recognized for role in mega turnaround
Integrated Global Services has been recognized as a major contributor to the successful Ras Tanura Refinery 2024 Mega Turnaround and Inspection for Saudi Arabian Energy ...
08-05-2024
-
BASF invests in capacity expansion of Basoflux® range of paraffin inhibitors
BASF plans to expand the global production capacity of its Basoflux® range of paraffin inhibitors at its site in Tarragona, Spain. This investment will enable BASF’s ...
07-05-2024
-
Ebara Elliott Energy to provide compressor for SAF project in Thailand
Ebara Elliott Energy, formerly Elliott Group, announces it has been contracted to provide a motor-driven recycle compressor with a variable frequency drive (VFD) for ...
07-05-2024
-
ETH Zurich select hte to provide high throughput test system designed for CO2 electroreduction
hte – the high throughput experimentation company was awarded a contract by the technical university ETH Zurich to provide a high throughput test system designed for ...
07-05-2024
-
TotalEnergies and Sinopec strengthen cooperation
On the occasion of the state visit to France by the President of the People's Republic of China, TotalEnergies, represented by Patrick Pouyanné, Chairman and CEO, and ...
07-05-2024
-
IPP enters agreement to market ammonia, methanol and melamine plants in Ludwigshafen
BASF and International Process Plants (IPP), a global leader in the acquisition and sale of process plants and equipment, have entered an agreement to market ammonia, ...
06-05-2024