Port of Corpus Christi approves 30-year lease with Howard Energy Partners
The Port of Corpus Christi, Texas recently approved a new 30-year lease agreement with Maverick Terminals Corpus, LLC for 41 acres of land on the north side of the port’s ship channel in the inner harbor.
Maverick’s parent company, Howard Energy Partners, plans to design, construct, and operate a rail terminal and storage facility for petroleum and petroleum products. The facility is intended to be connected to the proposed Dos Aguilas pipeline emanating from Monterrey, Mexico.
“This lease marks a strategic and significant expansion of our terminal network, not only for refined products but for crude oil,” Brad Bynum, president and co-Founder of Howard Energy Partners, said. “We are excited about the opportunities for further development, and look forward to continuing to expand our relationship with the Port of Corpus Christi.”
As part of the new lease, the Port of Corpus Christi Authority will design and construct a new oil dock, called Oil Dock 20, which will serve Mexico’s transportation fuel demands by rail with an estimated shipment target of at least two to three trains per week.
The port said in a release it anticipates significantly more volume once the Dos Aguilas pipeline is officially approved and in-service.
Oil Dock 20 is targeting Suez-max capacity for its crude exports to international markets.
