VH Global Sustainable Energy Opportunities to expand south Texas terminal storage assets
VH Global Sustainable Energy Opportunities (GSEO) has announced that it has committed US$35m to fund the expansion of one of its terminal storage assets in South Texas. The investment will increase the throughput and on-site blending capacity of the site “to cater for the increasing growth, and displacement of highly-pollutive fuel sources produced in Mexico”. GSEO says that the expansion is being driven by increasing tenant demand. The expansion will increase the storage volume and unloading capacity as follows:
- Adding a further 340,000bbls of tank storage capacity, taking the post expansion total to 865,000bbls of the combined capacity of both assets
- Increasing rail car unloading capacity
- Increasing draught of liquid cargo dock to accommodate larger vessels
- The expanded capacity will mean there will be lower turnover, therefore, having a greater positive impact
GSEO says that the commitment is expected to be deployed over the next 12 months, with the expansion being executed and overseen by its operating partner, Motus Energy LLC. Once construction has been completed, GSEO will have deployed total funds on this asset of US$96m, split across two terminal storage assets. It says that Motus Energy will continue to operate the current assets.