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$1.8 billion oil terminal, pipeline planned off Texas

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Published: August 19, 2008

HOUSTON - An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 percent of the nation's daily imported oil.

Demand from expanding refineries along the coast, from Freeport to Port Arthur, is driving the $1.8 billion project, executives of the joint partnership said yesterday. It will be the second offshore port in the Gulf of Mexico.

The Texas Offshore Port System, or TOPS, is a joint venture of Enterprise Products Partners LP and Teppco Partners LP, both based in Houston, and Oiltanking Holding Americas Inc., a subsidiary of Germany's privately held Marquard & Bahls AG.

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$1.8 billion oil terminal, pipeline planned off Texas

JOURNAL STAFF AND WIRE REPORT