LOOP Tests Crude Exports with VLCC
The Louisiana Offshore Oil Port (LOOP), the largest privately owned crude terminal in the United States, said on Tuesday it had moored a supertanker and initiated a detailed test procedure, bringing it closer to being able to export crude oil.
LOOP said last year its U.S. Gulf Coast facility would have the capacity to load Very Large Crude Carriers (VLCCs), the largest oil tankers, which can ship some 2 million barrels of oil by early 2018.
Washington lifted a 40-year ban on oil exports two years ago, and since then tankers filled with U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo.
Gulf Coast terminals handle three-quarters of U.S. crude exports, but only LOOP can handle supertankers. Most shipping channels are too shallow.
The company made only minor modifications to its existing facilities to operate the port complex for both imports and exports, it said in a statement on its website.
"The configuration safely enables both loading and offloading of Very Large Crude Carriers (VLCCs) without multiple shuttle tanker movements," the company said.
"The configuration safely enables both loading and offloading of Very Large Crude Carriers (VLCCs) without multiple shuttle tanker movements," the company said.
Reporting by Devika Krishna Kumar
