LBC Tank Terminals Signs Agreement with MEGlobal Americas, Inc. to Construct a New Terminal in Freeport, Texas
LBC is pleased to announce that agreements have been finalized with MEGlobal Americas, Inc. for the design, engineering, construction, and operation of a new terminal. This terminal will be constructed adjacent to MEGlobal’s world-scale monoethylene glycol (MEG) manufacturing plant and connected by pipeline. The terminal will be located on property owned by MEGlobal Americas and leased to LBC Freeport Terminal LLC. The process plant is to be constructed 60 miles south of Houston at MEGlobal’s new Oyster Creek site in Freeport, Texas.
LBC Freeport will be an integrated part of MEGlobal’s Supply Chain, secured through a long-term contract and pipeline connection. The main products to be handled are monoethylene glycol and diethylene glycol. Upon receipt of the necessary regulatory permits the construction commenced in August 2017 and the terminal is planned to be operational during 2019.
“We are delighted to enter into this agreement and partner with MEGlobal Americas on this project. With over 30 years of historical experience in handling Glycols, this project opportunity fits our portfolio and investment risk models and is aligned with our business strategy to further optimize, build-out and expand our business. This project very much fits our expertise in constructing, managing and operating chemical terminals and we look forward to a successful business partnership with MEGlobal.,” stated by John Grimes, Regional Business President Americas.
MEGlobal – an EQUATE company is a world leader in the manufacture, supply and marketing of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG). MEGlobal serves customers around the world, and has production facilities in Fort Saskatchewan and Prentiss, Alberta, Canada. EG is a key raw material used in a wide variety of products and applications including the manufacture of polyester fibers, polyethylene terephthalate resins (PET), antifreeze formulations and other industrial products. MEGlobal embraces the principles of Responsible Care, ensuring that our employees, neighbors, communities and the environment are protected at all times. For more information, visit www.MEGlobal.biz .
LBC Tank Terminals owns and operates a global network of terminals at key locations in the United States, Europe and China. We are a top-tier global independent operator of bulk liquid storage facilities for petrochemicals, petroleum products and base oil products and offers loading / unloading services for all modes of transportation. Underlying the entire ethos of the company is our focus on corporate and social governance in which we strive to have a positive effect upon society and ensure that there is no such thing as a dangerous product, at least not when under our care.
LBC Belgium Holding NV
Christina Schosser, +32 (0)15 28 73 10
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