The Port of Corpus Christi, located 208 miles southwest of Houston, Texas, began operations in 1926. The port is a landowner, land developer and landlord, and strategically located near major Texas oil and gas production.
Increased midstream investments in recent years have improved dock capacity, as well as inbound pipe and storage capacity. The port is now the U.S.’ largest energy export gateway, with the Permian Basin in particular a key beneficiary.
The port boasted 7,736 vessel calls in 2022, contributing positive economic impacts, including state and local taxes, compared to 6,843 vessel calls in 2021.
Internationally, the port boasted the third largest oil exports in 2022 when it moved 1.94 MMbbl/d, only trailing the Ras Tanura port in Saudi Arabia (6.5 MMbbl/d) and the Basrah Oil Terminal in Iraq (3.45 MMbbl/d).
And while the port’s past has mainly been tied to oil and gas, its future will increasingly see renewables grow in importance.
Four wind parks—Harbor Wind, Midway and Papalote Creek I and II—are in close proximity to the port and have 248 turbines with a total rated capacity of 551.8 megawatts.
And in the future, the port also aims to offer centralized carbon capture utilization and storage (CCUS) options while also leasing port-owned pore space for CO2 injection and storage.
As the century mark approaches, the port’s mission is still simple: to remain the energy port of the Americas.
Recommended Reading
Ithaca Deal ‘Ticks All the Boxes,’ Eni’s CFO Says
2024-04-26 - Eni’s deal to acquire Ithaca Energy marks a “strategic move to significantly strengthen its presence” on the U.K. Continental Shelf and “ticks all of the boxes” for the Italian energy company.
Apollo to Buy, Take Private U.S. Silica in $1.85B Deal
2024-04-26 - Apollo will purchase U.S. Silica Holdings at a time when service companies are responding to rampant E&P consolidation by conducting their own M&A.
Deep Well Services, CNX Launch JV AutoSep Technologies
2024-04-25 - AutoSep Technologies, a joint venture between Deep Well Services and CNX Resources, will provide automated conventional flowback operations to the oil and gas industry.
EQT Sees Clear Path to $5B in Potential Divestments
2024-04-24 - EQT Corp. executives said that an April deal with Equinor has been a catalyst for talks with potential buyers as the company looks to shed debt for its Equitrans Midstream acquisition.
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.