Magellan Midstream eyes exports out of Houston joint venture

Published 2016-01-22, 10:44 a/m
© Reuters.  Magellan Midstream eyes exports out of Houston joint venture

HOUSTON, Jan 22 (Reuters) - Magellan Midstream MMP.N and
LBC Tank Terminals are actively looking to develop crude export
capacity at their joint venture in Houston, Texas, Magellan
chief executive Mike Mears said on Friday at the Argus America
Crude Summit in Houston.
The 50:50 joint venture, Seabrook Logistics, will not
formally announce a project until it has customer commitments,
Mears said.
The companies are currently building out crude storage and
distribution infrastructure near LBC's already existing terminal
in Seabrook, Texas.

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