Moda Midstream has announced the completion of a project to add ten million barrels of crude oil storage at its Port of Corpus Christi facility in Texas, US.
Moda said that the final 495,000-barrel storage tank has been placed into service as part of the expansion at the Moda Ingleside Energy Center (MIEC) in Ingleside and the Moda Taft Terminal in Taft, both in Texas.
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Completion of this storage expansion brings the total storage capacity of the two Texas facilities to approximately 12 million barrels.
Moda Midstream president and CEO Bo McCall said: “At a time when there is a pressing need for additional crude oil storage, the early delivery of the tanks is another example of Moda’s ability to consistently provide solutions to our customers.
“Bringing 10 million barrels of storage online in just over a year and a half is a major accomplishment.”
Construction has already started at MIEC on a new expansion phase to add 3.5 million more barrels of storage. Moda expects the storage tanks from this expansion to be operational this year.
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By GlobalDataUpon completion of this construction, MIEC will have a total storage capacity of more than 15.5 million barrels.
In addition to the 3.5 million barrels of crude storage, the company said it is discussing more storage expansions with customers.
According to Moda, MIEC has direct connectivity to about 2.5 million barrels of Permian and Eagle Ford crude supply per day from four long-haul pipelines, with the Gray Oak Pipeline and the EPIC Crude Oil Pipeline having recently started operating at full capacity.
Furthermore, MIEC will start receiving deliveries from Harvest Midstream’s Ingleside Pipeline, which is currently under construction and is anticipated to come online later this year.
McCall added: “I want to thank each and every member of the Moda team for their hard work and dedication in completing this expansion during the novel coronavirus pandemic as their efforts are critically important to our industry, our region and our country.”
In August 2018, Moda Midstream signed an agreement to acquire a storage and export terminal known as the Oxy Ingleside Energy Center (IEC) from Occidental Petroleum.
Based in the US, Moda Midstream is a liquids terminaling and logistics firm that provides independent terminal, storage and distribution solutions to refiners and petrochemical manufacturers.
