Pipeline activity spurs interest in new Gulf Coast terminals
Wednesday, November 28, 2018
As an increasing number of pipelines are completed to transport crude oil and natural gas, the race to build terminals in the Gulf Coast and export these products overseas is on, according to the Akron Beacon Journal.
Over the next 18 months, new pipelines entering service in the Permian Basin are expected to carry an additional 2 million barrels of oil to the Gulf Coast. Meanwhile, pipelines crossing the Marcellus and Utica Shale fields in Northeast Ohio are being completed and connected to pipelines that carry output to the Gulf of Mexico, flooding the market even more.
Anticipating increased demand for storage capacity over the next two years, companies are jostling to build new terminals. However, these enterprises will still have to compete with one another to secure a regular supply of barrels.
Learn more: Akron Beacon Journal > Shale boom raises specter of Gulf Coast oil terminal glut
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