Trafigura acquires Texas Dock & Rail facility
Houston, 12 January 2012 - Trafigura AG (“Trafigura”), through its subsidiary Trafigura Terminals LLC d/b/a Texas Dock & Rail, has acquired Texas Docks & Rail Inc. (“TDR”) terminal assets in Corpus Christi, Texas. In addition to the terminal purchase, an alliance with Energy Transfer Partners, L.P. (“Energy Transfer”) (NYSE: ETP) has been formed to optimize logistics opportunities for Eagle Ford producers and will provide them with the ability to access one of the deepest private water docks in the region.
“This project is in line with Trafigura’s plans to expand our trading and transportation business in North America,” Jeff Kopp, Director of Oil for North America, said. “The acquisition allows us to offer a first class terminal to Eagle Ford producers who are searching to find outlets for their production.”
The Texas Dock & Rail terminal is an 85-acre industrial site in Corpus Christi, Texas consisting of approximately 600,000 barrels of storage for crude oil, fuel, and condensate. The terminal has a deepwater dock which is 1,200 feet long with 45 foot draft, extensive rail and truck access and the space for significant future expansion – more than 2 million oil barrels – creating greater opportunities for Eagle Ford crude and condensate producers.
“We have truck, rail loading and unloading facilities, a dock capable of loading multiple barges simultaneously, and we have plenty of space to expand,” Kopp said. “We’re coordinating with Energy Transfer Partners to provide pipeline solutions to bring Eagle Ford supplies to Corpus Christi where Trafigura will be instrumental in providing market outlets for these barrels.”
Energy Transfer Partners’ Senior Vice President, Brian Beebe said, "We believe that this strategic alliance between Energy Transfer and Trafigura will provide Eagle Ford producers with unparalleled pipeline, storage, and market solutions. The combination of expertise and assets will directly meet the needs of the Eagle Ford’s unique product mix and offer superior market access to our producers through the deep water dock in Corpus Christi."
Energy Transfer owns and operates approximately 18,000 miles of natural gas and natural gas liquids pipelines in the United States, including an extensive network of pipelines and related services throughout the Eagle Ford shale region.
The alliance between Trafigura and Energy Transfer will offer Eagle Ford producers a cost-efficient option for transport and storage of crude oil and condensate.
For further information please contact:
Trafigura’s US Media Office: 832 320 2885 or firstname.lastname@example.org