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Enbridge looking to build VLCC port off Texas coast

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Enbridge is teaming up with Kinder Morgan and storage company Oiltanking to build a facility 40 miles off Texas capable of loading one crude supertanker every 24 hours. Some crude for the facility will come from Phillips 66 Partners’ Gray Oak oil pipeline out of the Permian, and Enbridge is exercising an option to buy a 22.8% stake in the pipeline for $600 million. Gray Oak is under construction and expected in service by YE19. In addition to the Texas projects,......
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