USA: Crude Oil Trading Construction of 930 Million Dollar Mississippi River Oil Terminal Begins
Nola Oil Terminal has commenced phase one construction of an oil and refined products terminal project on the lower Mississippi River in Plaquemines Parish, Louisiana, USA which will help to accommodate larger vessels for the purpose of trading crude oil and clean petroleum products. The project will be the first of its kind in the region.
Myrtle Grove/USA – Nola Oil Terminal has recently announced that it has begun construction on phase one of an oil and refined products terminal project in Plaquemines Parish, Louisiana, USA occupying 158 acres located at Mile Marker 59 on the lower Mississippi River. The 300-million-dollar wharf and dock bond funding for this project was approved in summer 2021 and marks the largest bond issue approved by the Port of Plaquemines in over 50 years. Nola Oil Terminal will be the first of its kind in the region, allowing Mississippi River access for much larger vessels.
The Nola Oil Terminal in total is a 930-million-dollar project. The initial water-side phase of the project includes two deep water berths for these tankers and one barge dock. These two berths will be capable of mooring 170,000-ton vessels. The barge dock will serve both inland and oceangoing tank barges. Land-side construction constitutes the second phase of the project.
When completed, the project will be the newest state-of-the-art facility along the lower Mississippi River and is poised to add further value by offering blending, storing, and transferring needs with a superior geographical location. It is these factors, among others, which make Nola Oil Terminal an attractive investment.
Once completed and operational, the terminal will be able to accommodate up to six tankers each week. The completed structure, which is phase two, is expected to have a storage capacity as high as 10 million barrels.
In addition to opening new channels to import and export crude oil and other clean petroleum products, the terminal expects to create over 1,000 construction jobs through completion of phases one and two. Additionally, the completed terminal is expected to sustain from 30 to 40 permanent jobs in Plaquemines Parish. Phase one, the wharves and docks, is projected to be completed in mid-2022. All required permits are in place, and site preparation including site clearing, open channel drainage, construction access roadways, geotechnical investigations and pile load tests, and environmental studies is completed. Phase two, the land-side section, is in the development phase.