Let’s give a hallelujah moment to Houston-based Moda Midstream, which has announced completion of the last 495,000 Bbls crude oil storage tank at the company’s Midstream Ingleside Energy Center (MIEC) on the Texas Gulf Coast. This latest news lifts MIEC’s capacity to 10 MMBbls. And that sounds mighty good right now.

Moda Midstream

Moda Midstream LLC is a liquids terminaling and logistics company that provides independent terminal, storage and distribution solutions to refiners, petrochemical manufacturers, marketers and producers of crude oil, condensate, NGLs, refined products and other bulk liquids.

www.modamidstream.com

But there’s no rest for the weary in a time of hyper storage shortage. Moda reports construction now has begun on another expansion of MIEC to onboard an additional 3.5 MMBbls of crude oil, bringing the company’s total capacity that includes its Taft Terminal to 15.5 MMBbls. Service on the latest expansion is expected to go online by year end.

And Moda isn’t stopping there. The company says it now has obtained permits and is in talks with customers to add even more storage at both terminals. Moda operates one of the largest crude oil export facilities along the Gulf Coast with pipeline connectivity to the Cactus I and II, Phillips’ Gray Oak, EPIC, and other pipelines bound for southern destinations, flowing approximately 2.5 MMBPD of Permian and Eagle Ford crude. Operating three gulf terminals, Moda Midstream literally transformed a former naval base, now MIEC, into an export hub accommodating supertankers.

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See also: THE MATTER OF CRUDE OIL STORAGE; NUSTAR GETS A MONEY BOOST

 

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