Oiltanking North America LLC has acquired approximately 220 acres (89 hectares) of waterfront and industrial land in Texas City TX. This transaction will provide the necessary area to develop Oiltanking’s Texas Independent Deepwater Expansion (“TIDE”) terminal.
During the initial phase of development, construction of a finger pier will begin with two deep-water docks with up to 45 feet (14 meters) draft. The new terminal has ample ready-to-build land available for construction of 10 million barrels (1.6 million cbm) of storage, pipeline interconnectivity, and additional jetties as needed for crude oil, petroleum, and gas products in the Houston market.
Upon completion of the initial development phase, the terminal will form a viable export/import/blending hub alternative in the Houston market by creating a premier logistics platform with significant flexibility and optionality. The TIDE terminal is in close proximity to Oiltanking’s existing Texas City terminal which offers sophisticated infrastructure with approximately 550,000 cbm (3.5 million barrels) of liquid petroleum products, renewables, chemicals, and gas storage capacity. The Texas City terminal has rail and truck capability and has two docks for vessels with up to 12 meters (40 feet) draft and eight barge docks.
The development of the TIDE terminal fits perfectly with the Oiltanking strategy to offer excellent terminal services in key petroleum and chemical markets in North America, according to Oiltanking officials. The port of Texas City is home to a vast refinery market and several chemical companies. It's short sailing time to open water and uncongested marine traffic position makes the port a highly valuable player in the Houston market.