USA: Business Strategy Moda Completes 10 Million Barrel Crude Oil Storage Expansion
The mega expansion has been made at Moda Midstream’s Texas facilities in the USA. With this move, the total storage capacity at the Moda Ingleside Energy Center and Moda Taft Terminal is approximately 12 million barrels.
Houston/USA – Moda Midstream (Moda) has recently announced that it has placed into service the final 495,000 barrel tank from its 10 million barrel crude oil expansions at the Moda Ingleside Energy Center (MIEC) in Ingleside, Texas and the Moda Taft Terminal in Taft, Texas. The completion of this storage expansion brings total storage capacity at MIEC and the Moda Taft Terminal to approximately 12 million barrels.
“At a time when there is a pressing need for additional crude oil storage, the early delivery of the tanks is another example of Moda’s ability to consistently provide solutions to our customers,” said Moda President and CEO Bo Mc Call. “Bringing 10 million barrels of storage online in just over a year and a half is a major accomplishment.”
Construction has begun at MIEC on a new expansion phase of an additional 3.5 million barrels of crude oil storage. Moda expects to begin placing storage tanks from this expansion into service later this year. MIEC will have total storage capacity in excess of 15.5 million barrels upon completion of construction.
Moda has also obtained permits to construct additional crude oil storage capacity at both MIEC and the Moda Taft Terminal and is discussing further expansions with customers.
As the leading crude export facility in the United States, MIEC has direct connectivity to approximately 2.5 million barrels per day of Permian and Eagle Ford crude supply from four long-haul pipelines. Two of these pipelines, the Gray Oak Pipeline and the EPIC Crude Oil Pipeline, recently commenced full service.
In addition, MIEC will be able to receive deliveries from Harvest Midstream Company’s Ingleside Pipeline, which is currently under construction and is expected to be placed into service later this year.