$2B Texas Offshore Oil Port Project Moves Forward

Law360, New York (August 18, 2008, 12:00 AM EDT) -- Enterprise Products Partners LP, Teppco Partners LP and Oiltanking Holding Americas Inc. have signed off on an agreement to build a huge offshore port and pipeline system to deliver crude oil to refiners on the Texas Gulf Coast.

The agreement moves them one step closer to submitting a deepwater port application to the U.S. Coast Guard.

Exxon Mobil Corp. and Motiva Enterprises LLC have already committed to using the facility — called Texas Offshore Port Systems — if the project garners the necessary permits and regulatory...
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