Enbridge, Enterprise to jointly develop deepwater port

The two companies say they will jointly develop and market a deepwater offshore crude oil export terminal.

The SPOT project could require two new 36-in. offshore pipelines.
The SPOT project could require two new 36-in. offshore pipelines.
Courtesy Enterprise Product Partners

Offshore staff

HOUSTON – Enbridge Inc. and Enterprise Products Partners L.P. have announced that they have agreed to jointly develop and market a deepwater offshore crude oil export terminal capable of fully loading very large crude carriers (VLCCs).\

Under the terms of the letter of intent, Enbridge and Enterprise will work to finalize an equity participation agreement. The agreement would allow Enbridge an option to purchase an ownership interest in Enterprise's Sea Port Oil Terminal (SPOT), subject to SPOT receiving a deepwater port license.

The parties say they intend to initially focus commercial development efforts on seeking customer support to fully utilize SPOT.

12/9/2019

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