San Antonio-based pipeline company Howard Energy Partners is making its first foray into the Port of Corpus Christi with a $150 million storage facility that will serve as an entry point to the Mexico and overseas export markets.
“One of the big focuses is diversifying the company both geographically and across the hydrocarbons and that just means everything from gas to oil,” Brad Bynum, Howard Energy’s president and co-founder, said in a phone interview.
Howard Energy, which does most of its business in natural gas pipelines, storage and processing, owns and operates more than 500 miles of pipelines and 220,000 barrels of liquid storage capacity in Brownsville. The company is building the Corpus facility through subsidiary Maverick Terminals Corpus. This will be the company’s biggest project to date and its first foray into Corpus Christi. It will also allow the company to export more crude oil and refined product.
Bynum said the new facility will break ground in August and the first phase, which will consist of 480,000 barrels of gasoline and diesel storage, should be complete by the end of 2018. Howard Energy will spend up to $150 million over the next five years to build out the facility, which Bynum said they hope will have an additional 1.6 million barrels of crude oil storage.