Port of Corpus Christi Commission signs lease agreement with Carlyle Group Joint Venture
Port of Corpus Christi Commission officials have approved a 50-year lease agreement with Lone Star Ports to develop a state-of-the-art petroleum export terminal for approximately 200 acres on Harbor Island.
“This long-term commitment is testament to the significance of the Corpus Christi gateway for American energy exports, which are expected to triple in the next decade,” Sean Strawbridge, CEO for the Port of Corpus Christi, said. “A 50-year lease agreement with the Carlyle Group and the Berry Group joint-venture company, Lone Star Ports, is not only complementary to our existing marine terminal infrastructure but also positions the Port of Corpus Christi to be the preferred outlet for US-produced crude exports serving all major global demand centers for generations to come.”
The facility would feature the latest in safety, security and environmental technologies, per the agreement, connecting crude producers with all major international markets while providing accretive value in the Port’s annual operating revenues, and the project is expected to create more high-wage jobs, as well as more economic prosperity for Port Aransas, Nueces County, and throughout Texas.
“This project on Harbor Island is the next pivotal step in directing the growing crude oil production in the United States to global markets via our Port of Corpus Christi,” Charles W. Zahn, Jr., Port of Corpus Christi Commission chairman, said.
