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Magellan joint venture to expand Gulf Coast crude storage, docking capabilities

Magellan Midstream Partners LP and LBC Tank Terminals LLC are planning to expand the crude oil and condensate storage and dock capabilities of their 50/50-owned subsidiary, Seabrook Logistics LLC.

Seabrook Logistics plans to add about 700,000 barrels of additional storage in Seabrook, Texas. The company is also looking to add a new Suezmax dock with up to a 45-foot draft and dock capacity of about 400,000 barrels per day, according to an Aug. 1 news release.

At completion of the estimated $120 million expansion, Seabrook will have about 3.1 million barrels of storage capacity, deepwater access through an Aframax dock and a Suezmax dock and access to inbound crude oil lines through a connection to Magellan's Houston crude oil distribution system.

The expansion is expected to be operational late 2019.