Enterprise Products’ SPOT Oil Export Project Faces Uncertain Future Due to Low Customer Interest

Enterprise Products Partners announced today that its Sea Port Oil Terminal (SPOT) project lacks sufficient customer interest to move forward with commercialization, casting doubt on the future of what was planned to be the United States’ largest offshore oil export terminal.

During a post-earnings conference call, CEO Jim Teague emphasized that specific volume commitments, fees, and terms are necessary prerequisites for construction. “If we can’t achieve these within a reasonable amount of time, we will move on,” Teague stated.

The project, which received its deepwater port license from the United States Maritime Administration (MARAD) in April 2024, has been aim…