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Enterprise Products gets port license for Gulf of Mexico oil terminal
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Enterprise Products gets port license for Gulf of Mexico oil terminal
Apr 9, 2024 6:09 AM

April 9 (Reuters) - Enterprise Products Partners ( EPD )

said on Tuesday it had received a deepwater port license for its

Sea Port Oil Terminal (SPOT) in the Gulf of Mexico from an

agency of the U.S. Department of Transportation.

The project, located near Freeport, Texas, would become the

biggest offshore oil export terminal in the U.S. after

completion with a capacity to load two supertankers at a time

and export 2 million barrels of crude oil per day.

"The receipt of the license is the most significant

milestone to date in the development and commercialization of

SPOT," said AJ Teague, co-chief executive officer of

Enterprise's general partner.

The company had earlier said it expects to get the license

in the first quarter and start operations in 2027.

In January, environmental groups had sued U.S. to overturn

the approval for the project, saying it would boost oil

production and increase emissions.

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