U.S. Oil Export Race Rages Even as One Project Makes Leap - Bloomberg

U.S. Oil Export Race Rages Even as One Project Makes Leap - Bloomberg:

The race to develop oil terminals that can fully load supertankers on the U.S. Gulf Coast remains congested, even as one of North America’s largest pipeline operators decided to push its project ahead.

Over a year, more than 10 projects have been proposed for terminals that, combined, will be able to load 8 million barrels a day onto very large crude carriers, or VLCCs. While they all not be needed, the companies planning the facilities continue to move forward.

Enterprise Products Partners LP was first to announce a final investment decision on its Sea Port Oil Terminal late last month, and last week the company said it expects to receive regulatory approval in the first half of 2020, followed by two years of construction. In the meantime, Energy Transfer LP said last week it was advancing talks on its terminal and Tallgrass Energy LP is holding discussions on its project.