With the Port of Corpus Christi expected to become the nation’s top crude oil export hub over the next decade, now is a good time to buy or sell a crude oil export terminal along the South Texas waterway, industry analysts said.
Flint Hills Resources has become the third company over the past two months to put a Corpus Christi export project up for sale. In a statement Wednesday, the Kansas company, controlled by Charles and David Koch, confirmed hiring J.P. Morgan to put its Ingleside Crude Oil Export Terminal on the market and explore options for a either a sale or a partnership.
The proposed sale comes as Houston pipeline operator Enterprise Products Partners looks to sell its 50 percent stake in a recently completed crude oil export terminal along the Corpus Christi Ship Channel. The Washington private equity firm The Carlyle Group is also seeking to sell a 25 percent stake in a proposed crude oil export terminal on nearby Harbor Island.