LOOP LOADS 3 VLCCs IN SEVEN DAYS
Covington, Louisiana, December 10, 2018
In the last seven days, three VLCCs have departed LOOP’s Marine Terminal full of domestic crude oil. As the demand for exports from Louisiana increases, the efficiency of LOOP’s vessel loading service has delivered value to the global petroleum marketplace.
The three VLCCs all arrived at the LOOP deepwater port completely empty and departed fully loaded with various crude types that can be sourced from LOOP’s Clovelly Hub, including a light sweet grade. LOOP has been a hub for domestic crude production since 1996 and handles a wide spectrum of domestically produced energy including WTI, LLS, Eagle Ford, Bakken, Mars, THB and specialty grades.
These three VLCCs were loaded one after the other, significantly reducing overall load time at the Port. As the demand to load at LOOP grows, this same loading strategy can be utilized, reducing the time to fully load a VLCC at LOOP to as little as two days.
“This is a great proof point of the value of our ownership interest in LOOP” said Kevin Nichols, EVP, Shell Midstream US. “The US Gulf Coast plays an important role in providing the energy that the world needs, and LOOP is strategically positioned and has the capability to respond to the growing global market demand. As we see growth in our key connected systems across the region, we also expect to see future growth at LOOP.”
LOOP, as the nation’s only deepwater port, was constructed specifically for the safe and efficient handling of VLCC’s, and began export operations in February 2018. LOOP offers its vessel loading service using already-built infrastructure that both minimizes environmental risks and impacts and focuses on sustainability as the best use of our nation’s existing assets. As market demand grows, LOOP will expand vessel loading services in coordination with concerned agencies and stakeholders to ensure its activities remain fully protective of the environment and public health.
137 Northpark Blvd
Covington LA 70433
About Louisiana Offshore Oil Port LLC
LOOP LLC provides crude oil offloading, loading, transportation, terminalling and storage services. It owns and operates the nation’s only crude oil deepwater port, which includes three single-point mooring (SPM) buoys in the U.S. Gulf of Mexico, approximately 18 miles offshore of Louisiana. The SPMs can accommodate very large crude carriers, ultra-large crude carriers, medium-range Jones Act compliant tankers and floating production, storage and offloading deepwater facility shuttle tankers. LOOP also provides logistics services to pipelines that connect to regional and national pipeline networks and refining facilities. LOOP has more than 72 million barrels of crude oil storage capacity at its Clovelly Hub in Galliano, La. LOOP is a joint venture of Marathon Petroleum Company LP, as majority owner; Shell Oil Company; and Valero Terminalling and Distribution Company.