By Leticia Gonzales
Natural Gas Intel, Jan. 26, 2023
Fresh off another record quarter, the Port of Corpus Christi in South Texas solidified a banner year in which tonnage reached new heights as demand soared for refined products and crude oil, along with LNG exports.
The port achieved a new annual tonnage record of 187.9 million tons – a 12% increase over 2021 volumes, it said. The jump was largely attributed to a 21% rise in refined products shipped, while total crude oil shipments increased 15% year/year.
Crude exports averaged a record 2 million b/d in 2022, an increase over its 2021 record average of nearly 1.8 million b/d, according to the port. Petrochemicals exports increased 23% year/year, reaching 3 million tons.
Notably, liquefied natural gas exports also grew considerably last year. The port said its LNG shipments have doubled since 2020 and rose 3.5% year/year in 2022. It expects additional LNG export growth once the third phase of Cheniere Energy Inc.’s Corpus Christi Liquefaction facility begins operations in 2025. The project, sanctioned last year, would increase LNG exports by another 12 million tons per year (mmty) over its current 16 mmty.
“The Port of Corpus Christi continued to see strength in the energy and chemicals sectors in 2022, and we are grateful for our customers’ confidence in the gateway to move their goods to the markets that need them the most,” said CEO Sean Strawbridge. “The continuing trust of our industrial partners and overseas allies in our ability to deliver essential goods and services underscores the critical role the Port of Corpus Christi serves in the global trades.”
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