The U.S. shale revolution has transformed the nation into an energy powerhouse and established Texas as a global economic engine. Thanks to surging production in the Permian Basin and Eagle Ford Shale the United States has shifted geopolitical ties, become less reliant on foreign oil and taken significant steps toward energy independence.
Today, more than 60 percent of U.S. crude exports move through the Port of Corpus Christi. As more pipelines come online in 2019, more export infrastructure is needed to handle the glut of crude expected to hit the Coastal Bend region of Texas in the coming year. The Harbor Island Export Terminal will expand the nation’s export capacity and further cement the United States as a major player in the crude export market.
According to the U.S. Energy Information Administration’s (EIA) annual energy outlook for 2019, the United States – now a net exporter of natural gas and coal – is poised to become a net energy exporter in 2020. With the Permian Basin the epicenter of the U.S. energy renaissance, the Coastal Bend region of Texas is on track to become the premier global export hub.
Harbor Island will be the first U.S. onshore export terminal servicing full-laden Very Large Crude Carriers (VLCC) with the ability to export 2 million barrels of crude oil per vessel. Once completed, the project will serve as a gateway from Texas to the rest of the world. This Texas-sized project is good for our community, our state and our nation.