Trafigura phillips 66 create jv to develop deepwater port in texas

A great piece of news!

According to recent reports, Trafigura, a global commodities trading company, and Phillips 66, a US-based energy company, have formed a joint venture (JV) to develop a deepwater port in Texas, USA.

The joint venture, called Trafigura Phillips 66 Deepwater Port, LLC, aims to build a deepwater port in the Port of Corpus Christi, Texas, which is one of the busiest ports in the United States. The port will be designed to handle large, deep-draft vessels and will provide a critical link between the US energy industry and international markets.

The new port is expected to have a capacity of approximately 1.5 million barrels per day, making it one of the largest deepwater ports in the United States. The project is expected to create thousands of jobs during construction and operation, and will also generate significant economic benefits for the local community.

The JV partners will invest approximately $1.5 billion in the project, which is expected to be completed by 2025. The port will be designed to handle a variety of energy products, including crude oil, refined petroleum products, and liquefied natural gas (LNG).

This joint venture is a significant development for the energy industry in Texas and the United States, as it will provide a new and efficient way to transport energy products to and from the region. It also highlights the growing importance of the US energy sector and the country's role as a major player in the global energy market.

Here are some key details about the project:

I hope this information is helpful!