Negotiations are under way between the Canaveral Port Authority and international petroleum firm Vitol S.A. Inc. to build and operate a major fuel storage terminal and pipeline on a 30-acre site on the north side of Port Canaveral.
The $120 million project will serve the shipping industry as well as boost oil and gasoline supplies in Central Florida with the construction of a 50-mile fuel pipeline from Port Canaveral to Orlando International Airport.
Vitol has fuel distribution, terminal and refinery operations in a number of countries. Upon completion of a detailed marketing plan and long-term lease negotiations, the company hopes to start construction at Port Canaveral by the middle of next year.