Buckeye remains confident about the fundamental strength of our core business and the corresponding positive outlook for future growth opportunities driven by the evolving energy transition. Buckeye is focused on further diversifying our business with development of a clean energy & infrastructure portfolio that will complement our existing business lines. Underlying our growth opportunities is our commitment to strong environmental practices and support for employees and local communities.
Buckeye Solar Development
Buckeye is executing on a solar development program at key terminal locations as a major part of achieving our goal of emissions neutrality in the next several years. This is the first phase of the development of a renewables business at Buckeye as we pursue both on-system and off-system solar opportunities to build into a leading renewables investment platform as the energy economy transitions.
Corpus Christi Ship Channel Improvement Project
The ongoing Channel Improvement Project, which includes the widening and deepening of the entire Corpus Christi Ship Channel, has facilitated significant economic development. The project is advancing the development in the Corpus Christi Ship Channel, is directing long-haul pipelines from the Permian Basin to come to Corpus, and is helping Permian Basin development by giving U.S. crude production a cost-efficient path for export.
Buckeye South Texas Terminals Overview
Buckeye Texas Partners
Integrated system with interconnectivity throughout the Permian and Eagle Ford Basins and among the Corpus Christi refining center
Multiple value-add services, including pipeline connectivity, crude processing, storage, blending capabilities, and deep-water marine docks
50,000 barrels per day condensate splitter facility
Deep-water, high-volume marine export terminal (6.1 million barrels of storage); high-capacity vapor recovery units; refrigerated LPG storage
Substantial experience handling a diverse slate of products (propane, butane, crude, naphtha, etc.)
South Texas Gateway Terminal
Development of deep-water, open-access marine terminals with connectivity to multiple crude oil production basins
Joint venture with Phillips 66 and Marathon Petroleum; Buckeye will build and operate the terminal
Currently constructing 8.6 million barrels of crude oil storage; expandable to 10 million barrels
Two deep-water docks, capable of berthing Very Large Crude Carrier (VLCC) vessels
Pipeline connectivity to multiple long-haul inbound pipelines originating from the Eagle Ford and Permian Basin
High-speed vessel loading rates and best available technology vapor systems
Buckeye’s two terminals in the Corpus Christi marketplace will be positioned to export more than
barrels per day of US crude and refined products. Every year, Buckeye will be positioned to move over $18 billion of U.S. products for international export.
The ship channel improvement project is essential to Buckeye and our customers; upon completion of both terminals, Buckeye will have invested over $2 billion into Corpus Christi infrastructure.