GT Logistics announces agreement with Cokinos Energy
GT Logistics (GTL) has announced that it has signed a marketing agreement with Cokinos Energy Corporation (Cokinos) that will enhance the services offered at its GT OmniPort located in Port Arthur, Texas.
The 1,100 acre GT OmniPort, scheduled for initial operations in April of 2012, is a multi-modal terminal for crude oil and other products transported via rail, ship, barge and truck.
Upon GTL's completion of rail lines, crude railcar unloading racks, pipelines and barge loading facilities, Cokinos will be responsible for marketing and scheduling throughput of crude oil delivered to the GT OmniPort. In addition, Cokinos and GTL have finalized a throughput and terminal services agreement under which Cokinos will ship crude at guaranteed minimum volume levels through the GT OmniPort.
The GT OmniPort is designed for an initial throughput capacity of 125,000 barrels of oil per day from railcar to barge. Crude oil delivered by rail is expected to be delivered to refineries located adjacent to the GT OmniPort which have demand for over 1m barrels per day of crude feedstock. Future plans for the GT OmniPort include tank storage, pipeline and deepwater dock improvements, which will significantly increase GTL's participation in the global petrochemical market."The demand for terminal facilities in the Gulf Coast capable of receiving unit trains of crude continues to grow and we are pleased that GT OmniPort is able to fulfill this need," said Tim DeSpain, president, GT OmniPort. "Our agreement with Cokinos provides a solution to customers looking for ways to bring crude to the various markets in the Gulf Coast. This strategic partnership with a company with a proven track record of transporting crude from the wellhead to the end user will allow GTL to significantly increase the rate of expansion of its terminal facilities."