What was once the site of Naval Station Ingleside is now home to the MODA Ingleside Energy Center. Parent company MODA Midstream has transformed the 900 acre property in hopes of becoming a key player in America’s energy future. Its newest expansion enables the company to get Texas crude oil to the global market.
A once bustling naval base now has new life as MODA Midstream announced a major expansion to its Ingleside Energy Center. MODA is a liquids terminaling and logistics company that provides independent terminal, storage and distribution to refiners, manufactures, marketers and producers of crude oil and other bulky liquids.
CFO Jonathan Ackerman with MODA Midstream says, “Here at Ingleside it’s going to be a very significant market for crude oil. Today there are already three new inbound pipelines that can handle over 2-million barrels a day of crude oil are being built.”
MODA just announced upgrades to its berthing docks, enabling the loading of Very Large Crude Carriers or VLCC’s. It can now provide existing and potential customers the ability to safely and cost effectively load VLCC’s at rates of 80,000 barrels of crude oil per hour.
According to Ackerman, “Today we see it really as a gateway to bringing U.S production of crude oil and natural gas liquids and other products to the world markets.”
The location of the facility allows for a short transit to the Gulf of Mexico and minimal port congestion which means quick turnaround times for customers.
Ackerman says, “We’re continuing to add to our capabilities here and to do it in a way that allows us to do safely, efficiently, cost effectively and provide a reliable solution to our customers.”
MODA is hoping to become a major player in America’s energy future, getting crude oil from the Permian Basin and Eagle Ford Shale to key domestic and international markets.
Ackerman says, that Texas oil is valuable, “Those barrels are going to make this area extremely important to the market. Our intention to be ready to hook up to those pipelines be ready to handle the barrels that are received there.”
The MODA Ingleside Energy Center can currently store 2.1 million barrels of crude oil, with expansion on the way to handle an additional 10 million barrels in the future. Construction has also begun on piping infrastructure to receive crude oil directly from the Cactus II, Gray Oak and the Epic Crude Oil Pipelines. Work is expected to be complete by 2020.