Argus Media Limited

09/13/2021 | News release | Distributed by Public on 09/13/2021 15:31

Moda shuts crude loadings at Texas terminal: Update

Updates storm forecast, adds port closures.

Moda Midstream has shut crude loadings at its export terminal on the Texas Gulf coast as tropical storm Nicholas heads to the region.

Marine operations at the Moda Ingleside Energy Center have been deferred, the company told Argus today. The company has suspended crude loadings, but the terminal remains online. The Moda terminal near Corpus Christi, Texas, has 15.6mn bl of storage capacity and can export up to 1.5mn b/d of crude.

Tropical storm Nicholas was about 70 miles (110km) south of Port O'Connor, Texas, at about 2pm ET today and heading towards landfall later this evening on the central Texas coast, according to the National Hurricane Center (NHC).

The storm 'could be near hurricane intensity at landfall,' and there is danger of life-threatening storm surge inundation from Port Aransas in the Corpus Christi area to Sabine Pass, the NHC said. A hurricane watch was in effect from Port Aransas to San Luis Pass in Lake Jackson, Texas.

The Texas ports of Corpus Christi, Freeport, Houston, Galveston and Texas City closed to inbound traffic at 12pm ET today, The US Coast Guard set the ports to status Yankee, meaning gale force winds are expected within 24 hours and the ports are closed to inbound traffic.

The Corpus Christi area, including Ingleside, has become the top hub to export US crude after three major pipelines started service in the past two years.

The Corpus Christi area accounted for about 53pc of US crude exports - or 1.57mn b/d - in January-June 2021, according to monthly Census trade data.

By Eunice Bridges