The biggest crude exporter in the United States Trafigura Group Pte. Ltd. announced on Friday it formed a joint venture with Phillips 66, the fourth largest US refiner, to build an offshore deepwater port some 21 nautical miles east of the entrance to the Port of Corpus Christi in Texas.
The joint venture, the Bluewater Texas Terminal LLC, will be formed in a 50/50 ratio between Trafigura and Phillips 66, and the proposed project assumes building of up to two single point mooring buoys that should be able to accept large crude carriers for the sake of exporting crude oil.
"By easing infrastructure barriers, the Bluewater Texas Terminals project will help the Permian region produce and export more crude oil, grow the US economy and support Texas jobs," said Corey Prologo, director of oil trading North America for Trafigura.