With tens of thousands of jobs created in the last few years, several international companies basing operations here, and growth expected to continue, the Corpus Christi region is bustling!
The Eagle Ford Shale has created a reversal in the flow of crude oil through Port Corpus Christi. Until 2011, almost no crude oil moved out of the South Texas port. Since 2011 and currently, the majority of crude oil at Port Corpus Christi is heading out.
Populations are growing in the region around Corpus Christi, and nearly 20,000 jobs have been added since 2009. Companies from Switzerland, Austria, China, Italy, and the United States are developing operations around Port Corpus Christi.
The Oil and Gas Journal has more on Corpus Christi's emergance as the energy hub of the United States. See: Port Corpus Christi emerges as a growing trasportation and storage hub for crude oil from Eagle Ford Shale.
Port of Corpus Christi Authority Commission Chair, Judy Hawley recently testified before a US House Comittee on the benefits of exporting natural gas from the United States. The export of natural gas would require the lift of a decades old ban on the export of the commodity.
Mrs. Hawley told lawmakers that the export could economic gains that would flow well beyond the oilfields. Citing the development of Cheniere's $12 billion LNG facility on the La Quinta Ship Channel at Port Corpus Christi. The project is expected to create thousands of jobs.
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Natural gas and wind are both in abundance in South Texas. Natural gas is flowing from the Eagle Ford Shale in close proximity to Port Corpus Christi, while wind energy components are regularly imported and exported via Port Corpus Christi cargo docks. Installation costs for gas tubines and wind turbines are similar in price for an install, excluding subsidies, according to Bloomberg New Energy Finance.
A recent article from Bloomberg News compares the use of wind and natural gas for energy, and how they may be used in conjunction. See: Shale Gas Boom Leaves Wind Companies Seeking More Subsidy.
Austrian steel and technology group, voestalpine, plans to break ground on their largest foriegn direct investment project to date at Port Corpus Christi's La Quinta Trade Gateway on April 23, 2014. A 550 million euro investment ($740 million US) is in the works for a facility that will produce high quality Hot Briquetted Iron (HBI). HBI is a key material in the raw steel making process. The project will create approximately 800 construction jobs, and employ 150 full-time staff when operational.
The San Antonio Business Journal has more information in the story, Austrian firm to invest $740 million in Corpus Christi.
Mention of voestalpine Texas' project at Port Corpus Christi along with news on the voestalpine group's overall growth is featured in a recent Reuters article. See: Austria's voestalpine close to margin targets - CEO
Other recent voestalpine Texas news from Midland News: Corpus Yodels with Austrian's voestalpine $740M plant
The Eagle Ford Shale oil boom continues to spur growth at Port Corpus Christi. NuStar Energy LP has just officially dedicated oil dock 16 at the South Texas port. The dock was completed safely and months ahead of schedule. Vessels have been filling with Eagle Ford crude at the dock since February.
Approximately $22 billion in construction projects are in progress at Port Corpus Christi with several thousand jobs in direct relation to these projects.
Port Corpus Christi Managing Director, Frank Brogan, is quoted extensively in an article from Bloomberg. See: Eagle Ford's Exports Spur Boom at Port of Corpus Christi
Other news on the incredible growth at The Port of The Lone Star State, including NuStar's expansion, is featured in an American Journal of Transportation article. See: NuStar joins growing crude dock expansions in South Texas
From Reuters, India edition; Nustar joins growing crude dock expansions in South Texas.