Magellan Midstream Eyes Crude Exports out of Houston
Magellan Midstream and LBC Tank Terminals are actively looking to develop crude export capacity at their joint venture in Houston, Texas, Magellan chief executive Mike Mears said on Friday at the Argus America Crude Summit in Houston.
The 50:50 joint venture, Seabrook Logistics, will not formally announce a project until it has customer commitments, Mears said.
The companies are currently building out crude storage and distribution infrastructure near LBC's already existing terminal in Seabrook, Texas.
(Reporting by Liz Hampton)