Texas COLT Submits Application with MARAD for Deepwater Port Project
HOUSTON: Texas COLT, a proposed joint venture among Enbridge Inc. (NYSE: ENB) (TSX: ENB), Kinder Morgan, Inc. (NYSE: KMI) and Oiltanking, announced that it has submitted an application with the U.S. Maritime Administration (MARAD) to construct and operate a deepwater crude oil export port located off the coast of Freeport, TX.
The Texas COLT Project includes an offshore platform and two offshore loading single point mooring buoys capable of fully loading a 2-million-barrel Very Large Crude Carrier (VLCC) in approximately 24 hours. The offshore facilities will be connected by a 42 pipeline to an onshore tank farm that will have up to 15 million barrels of storage capacity.
Today's submittal with MARAD begins the application process for Texas COLT which is planned to be in-service by 2022.
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