The Jupiter Pipeline, a new 1 million barrel a day crude oil pipeline from West Texas to Brownsville, has received the funding required to be built last week.
The pipeline is under development by Houston-based JupiterMLP and is receiving funding commitments from Charon System Advisors. Charon System Advisors is an affiliate of Houston-based private investment firm Spinel Investment Company.
JupiterMLP has secured permits to build more than 2.8 million barrels of storage and has given governmental and regulatory permits to load and unload vessels that can carry up to 65,000 deadweight tons.
Pipelines from the Permian to the Corpus Christi region are also being developed by San Antonio-based EPIC Midstream and Houston's Phillips 66 and Plains All American.