Port of Corpus Christi in a growth spurt as Houston becomes crowded
New pipeline investments in Corpus Christi are surging and could make it a popular export alternative to Houston, where congestion is crowding out midstream companies, according to a report released last week by Morningstar, a Chicago-based research firm.Corpus Christ is an attractive city sitting on the shores of a bay with a downtown Yacht Club. The sailboats will probably have to deal with more tankers if this export market for Texas oil continues to grow.
Corpus Christi already has three refineries, 10 pipelines that deliver crude from the Eagle Ford and one pipeline from the Permian. But as production rises in the both basins, Corpus Christi is becoming a crude export hub, where there is more real estate for marine docks and storage infrastructure and space for larger crude tankers, according to the Morningstar report.
Corpus Christi’s role in the midstream market depends on high oil production in the Permian. Two new pipeline projects have been proposed to bring crude from the Permian to Corpus, and if approved and completed on schedule, they would add a capacity of one million barrels a day by the end of 2019.