Now that Enterprise Products Partners’ proposed Sea Port Oil Terminal (SPOT) project has its Deepwater Port License, it’s time to think about when the company will make a final investment decision (FID) to move ahead with construction. Brent Secrest, EVP and chief commercial officer, said this week that the company would like to target before the end of this year to go forward on the project.
Featured Articles
- Analyst Insight
SPOT Receives Deepwater Port License
Enterprise's SPOT receives it's much anticipated Deepwater Port License. See it's planned infrastructure and some of the advantages of the project in today's RBN Analyst Insight.
- Blog
Leader of the Pack - Deepwater Port License in Hand, Enterprise's SPOT at Front of Export Terminal Race
In the race to build the next deepwater crude oil export terminal along the U.S. Gulf Coast, there’s a lot of competition but one project now has a clear advantage: Enterprise Product Partners’ planned Sea Port Oil Terminal (SPOT), which has made the most progress in moving through the regulatory morass and announced that it had received its deepwater port license on April 9. In today’s RBN blog, we provide an update on SPOT’s progress and look at some of its inherent advantages, including a potentially shorter time to market and extensive pipeline connectivity.
- Blog
Shake It Up - Why SPOT Will Change Everything in the U.S. Crude Oil Export Market
If you think, as we do, that (1) U.S. crude oil production is likely to increase by 1.5 to 2 MMb/d over the next five years, (2) almost all those barrels will be light-sweet crude that needs to be exported, and (3) exporters will overwhelmingly favor the marine terminals that can accommodate Very Large Crude Carriers (VLCCs), it would be hard to ignore the game-changing impacts that Enterprise Products Partners’ planned Sea Port Oil Terminal could have. SPOT, which could be completed as soon as 2026, will have robust pipeline connections from the Permian and other shale plays and be capable of fully loading a 2-MMbbl VLCC in one day, enough to handle virtually all the incremental exports we’re likely to see over the next five years. In today’s RBN blog, we discuss the fast-increasing role of VLCCs in U.S. crude oil exports and the potentially seismic impacts of the SPOT project.
