Posted by Staff Writer on 8/3/2017 to Energy Industry
IncSmart Texas (Small Business and Startups) - Permico Energia, a new energy startup company, hopes to build a $2 billion, 510 mile natural gas liquids pipeline. The energy company is based in Houston Texas and has offices in the District of Columbia. The pipeline will move oil from the Permian Basin in West Texas, to a port access facility and refinery in Corpus Christi. The company has funding commitments from South Korean investment banks and pension funds totaling $800 million.
The Permico Energia construction project should begin by the end of June 2018. The pipeline should be in service by 2020. The terminal in Corpus Christi includes building a fractionator. Fractionation is the process of separating gas, ethane, propane and butane. Another proposed pipeline from Corpus Christ to Houston will carry ethane to Houston markets The fractionator will process 300,000 barrels a day.
By IncSmart Staff Writer
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