LBC Tank Terminals announced that agreements have been finalized with MEGlobal Americas Inc for the design, engineering, construction, and operation of a new terminal in Freeport TX.
This terminal will be constructed adjacent to MEGlobal’s world-scale monoethylene glycol (MEG) manufacturing plant and connected by pipeline. The terminal will be located on property owned by MEGlobal Americas and leased to LBC Freeport Terminal LLC. The process plant is to be constructed 60 miles south of Houston at MEGlobal’s new Oyster Creek site in Freeport.
LBC Freeport will be an integrated part of MEGlobal’s supply chain, secured through a long-term contract and pipeline connection. The main products to be handled are monoethylene glycol and diethylene glycol. Upon receipt of the necessary regulatory permits the construction commenced in August 2017 and the terminal is planned to be operational during 2019.
“We are delighted to enter into this agreement and partner with MEGlobal Americas on this project,” said John Grimes, LBC Tank Terminals regional business president, Americas. “With over 30 years of historical experience in handling glycols, this project opportunity fits our portfolio and investment risk models and is aligned with our business strategy to further optimize, build-out and expand our business. This project very much fits our expertise in constructing, managing, and operating chemical terminals and we look forward to a successful business partnership with MEGlobal.”
LBC Tank Terminals owns and operates a global network of terminals at key locations in the United States, Europe and China. It is a top-tier global independent operator of bulk liquid storage facilities for petrochemicals, petroleum products, and base oil products and offers loading/unloading services for all modes of transportation.