Enterprise Products Partners LP (EPP) reported that Phase 1 of its Enterprise Crude Houston (Echo) storage terminal in Harris County, Tex., is complete and receiving deliveries of crude oil. The first three tanks total 750,000 bbl.
The next phase of the Echo terminal expansion includes adding up to 900,000 bbl storage as early as first-quarter 2014. EPP estimates that Echo could have as much as 6 million bbl of crude oil storage when completed.
EPP described Echo, its recently completed Eagle Ford shale pipeline (OGJ Online, June 8, 2012), and the reversal of the Seaway crude oil pipeline as projects benefiting both producers and consumers of crude by providing pipeline and waterborne access to more than 7 million b/d of Gulf Coast refining capacity.
The New York Mercantile Exchange is considering using Echo as a regional pricing point for the US Gulf Coast crude market. Through Seaway, Echo is connected to the storage hub in Cushing, Okla., the NYMEX benchmark pricing point for its West Texas Intermediate crude oil contract.
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