Vopak Terminals North America Inc. will investigate the development of a deep-water crude oil and petroleum products terminal at the U.S. Port of Long Beach after receiving approval for a study from the Long Beach Board of Harbor Commissioners, the port said in an emailed press release.
The preliminary agreement allows for an environmental impact study of a "liquid bulk" terminal for a 28-acre site at the port's Pier T.
If plans for the project are approved, the company would invest $120 million on land-side improvements for the first of three phases of construction, while the port would pay about $37 million for dredging and other waterside improvements.
Study, design, permitting, and construction of the project, which would be the fourth crude oil terminal at the port, would take up to 4 ½ years.
The company would invest $120 million for the first phase of construction
The first phase would generate nearly 1,200 jobs during the 1 ½ year construction period, according to preliminary estimates.
The terminal's annual throughput would be between 21 million and 55 million barrels per year while about 200 million barrels currently move through the port annually.
Vopak Terminals North America is part of Rotterdam-based independent tank storage company Vopak, which has terminals around the world.
The company currently operates a terminal at Long Beach with a capacity of 56,537 cubic meters (cbm) of petroleum products, chemicals, and biofuels, according to its website.
Ship & Bunker News Team
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