Tallgrass Energy signs potential anchor shipper
Tallgrass Energy, the company behind the planned $2.5 billion Plaquemines Liquids Terminal, a joint venture with the Plaquemines Port Harbor & Terminal District, announced last week it has reached a binding agreement with a potential anchor shipper.
Port officials described an anchor shipper as a company whose investment will likely attract other shippers to sign contracts to export crude oil transported to PLT and Tallgrass’ St. James refinery by the Seahorse and Pony Express Pipelines. The name of the third-party shipper is being withheld until the contract is finalized.
“This announcement solidifies the commercialization of the PLT project by Tallgrass Energy,” said PPHTD Executive Director Sandy Sanders. “Such a quick signing after board approval validates the Port’s strategic positioning and demonstrates the purpose and need for U.S. Crude Export Facilities on the Lower Mississippi River.”
The Plaquemines Parish Council, acting in its capacity as sole governing authority of PPHTD, approved the purchase of 600 acres of RAM Terminal property on Plaquemines’ Westbank for PLT on Oct. 25. The property will be purchased using a $30 million donation from Tallgrass, which will subsequently lease the property from the port for 40 years.
The proposed PLT facility will be capable of loading Suezmax and VLCC (very large crude carrier) vessels capable of shipping more than 200,000 tons of cargo at a time.