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TransCanada Will Add Millions of Barrels of New Cushing Storage

March 17, 2017 [OPIS] - The number of storage tanks for crude oil near the Cushing, Okla., NYMEX hub has grown exponentially in the last two decades, and the sprawl of steel is about to get even bigger.

TransCanada yesterday announced that it would construct 6.2 million bbl of additional storage at the NYMEX hub, using M2 Infrastructure LLC, in a deal that could ultimately result in expansion toward as much as 20 million bbl of extra tankage.

TransCanada executive vice president and president of Liquids Pipelines suggested that the deal would give the company enhanced flexibility for its customers. Construction will begin later this year and TransCanada will manage and operate the facility.

Analysts note that when pipeline systems dedicated to Cushing are counted in the supply capability, the Cushing hub will have coffers for more than 100 million bbl of crude once all build-out projects are completed.


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Added to TankTerminals.com on: Friday, March 17, 2017 by OPIS.
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