Affiliates of Enterprise Products Partners and Enbridge have signed a letter of intent (LOI) to jointly develop a deepwater crude oil terminal in the Gulf of Mexico.
The terminal will be capable of fully loading Very Large Crude Carriers (VLCCs), with commercial development efforts focused on Enterprise’s Sea Port Oil Terminal (SPOT) deepwater crude oil terminal.
Affiliates of Enbridge have plans to acquire an ownership interest in SPOT Terminal Services, the parent company of SPOT, after SPOT receives a deepwater port license.
The SPOT project consists of onshore and offshore facilities, including a fixed platform located 30 nautical miles off the coast of Brazoria County, Texas, which rests 115 feet deep, according to Enterprise. SPOT is designed to load VLCCs at roughly 85,000 barrels per hour, or up to 2 million barrels per d