HOUSTON, Jan. 31, 2019 /CNW/ - Texas COLT, a proposed joint venture among Enbridge Inc. (NYSE: ENB) (TSX: ENB), Kinder Morgan, Inc. (NYSE: KMI) and Oiltanking, today announced that it has submitted an application with the U.S. Maritime Administration (MARAD) to construct and operate a deepwater crude oil export port located off the coast of Freeport, TX.
The Texas COLT Project includes an offshore platform and two offshore loading single point mooring buoys capable of fully loading a 2-million-barrel Very Large Crude Carrier (VLCC) in approximately 24 hours. The offshore facilities will be connected by a 42" pipeline to an onshore tank farm that will have up to 15 million barrels of storage capacity.
Today's submittal with MARAD begins the application process for Texas COLT which is planned to be in-service by 2022.
Forward-looking information, or forward-looking statements, has been included in this news release to provide information about Texas COLT. Forward-looking information or statements included in this news release include descriptions of the Texas COLT project. Although Texas COLT believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results to differ materially from those expressed or implied by such statements. Except to the extent required by applicable law, Texas COLT assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Texas COLT or persons acting on Texas COLT's behalf, are expressly qualified in their entirety by these cautionary statements.
About Enbridge Inc.
Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. The Company safely delivers an average of 2.9 million barrels of crude oil each day through its Mainline and Express Pipeline; accounts for approximately 62% of U.S.-bound Canadian crude oil exports; and moves approximately 22% of all natural gas consumed in the U.S., serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec, and New Brunswick. Enbridge also has interests in more than 1,700 MW of net renewable generating capacity in North America and Europe. The Company has ranked on the Global 100 Most Sustainable Corporations index for the past nine years; its common shares trade on the Toronto and New York stock exchanges under the symbol ENB.
Life takes energy and Enbridge exists to fuel people's quality of life. For more information, visit www.enbridge.com.
About Kinder Morgan
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. We own an interest in or operate approximately 84,000 miles of pipelines and 157 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals transload and store liquid commodities including petroleum products, ethanol and chemicals, and bulk products, including petroleum coke, metals and ores.
For more information please visit www.kindermorgan.com.
Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of energy supply, trading and logistics. Oiltanking is one of the largest independent tank storage providers for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 24 countries within Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region. Oiltanking has an overall storage capacity of 20 million cbm.
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: (888) 992-0997
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Kinder Morgan, Inc.
Karl Henrik Dahl
+49 40 37004-744
SOURCE Enbridge Inc.