The proposed Mississippi River port facility could be up and running by mid-2020.
According to the Louisiana Economic Development Agency, the Plaquemines Liquids Terminal (PLT) will have storage capacity for up to 20 million barrels of crude oil. The project, planned as a public-private initiative, will be undertaken by Tallgrass Energy and Drexel Hamilton Infrastructure Partners.
Planned multiple deepwater docks along the Mississippi river will be delivered by the Plaquemines Port Harbor & Terminal District. These docking facilities will enable terminal operators to unload and unload larger-capacity vessels that are now able to transit the expanded Panama Canal.
The new terminal will be supplied by a pipeline with the capacity to transport up to 800,000 barrels of crude oil a day from Cushing, Oklahoma, to Louisiana.
Tallgrass Energy also plans to build an offshore pipeline extension to allow the loading of loading very large crude carriers. The project partners estimate the combined pipeline and terminal project will require a $2.5 billion capital investment.
Charlie Burt, Chairman of the Plaquemines Port, commented on the project: ‘We are an oil and gas parish and it’s exciting that some of our job losses on the exploration and production side can be replaced by new facilities that store, blend and export crude oil around the world.’
Plaquemines Port Executive Director, Sandy Sanders, added: ‘Our board was quick to offer support because the project fits the model of the port providing the site, and the private partners covering the cost of development.
‘PLT is a great fit within the port jurisdiction, which is also home to refineries, and liquefied natural gas and methanol facilities currently being developed.’