HOUSTON – Feb. 13, 2018 –(PR Newswire) – Caliche Development Partners, LLC announced the start of construction on Coastal Caverns' first brine pond, designed to support its 600-million-pound ethylene storage cavern. Mason Construction Ltd. of Beaumont, Texas mobilized at the Coastal site in January of this year with a targeted planned completion of this scope of work for July 2018. These steps support Caliche's planned in-service date of third quarter 2018, providing 600,000 lbs/hr of deliverability to multiple area ethylene pipelines.
Additionally, Mason Construction Ltd. has been awarded the foundation work for Coastal Caverns' main storage facility site, and is expected to mobilize crews for that scope in early February 2018.
Caliche Coastal's fully-permitted salt cavern storage facilities sit on 53 acres atop the Spindletop Dome in Beaumont, TX, with its additional 345-acre brine pond site less than four miles away. The initial phase of the project involves engineering, construction, and customer contracting for ethylene storage service from the existing 5-million-barrel cavern. When fully developed, Caliche Coastal will provide Gulf Coast NGL and olefin producers and consumers up to 32 million barrels of purpose-built, salt cavern storage facilities.
"We are pleased to partner with Mason Construction Ltd, a company whose longstanding commitment to quality, safety, and community support aligns with Caliche's core principles," said Dave Marchese, Chief Executive Officer of Caliche Development Partners, LLC. "We are delighted to be part the of the Golden Triangle community and also part of an industry that is vital to the American economy," added Marchese.
About Caliche Development Partners, LLC
Caliche Development Partners, LLC is a Houston, Texas-based company focused on the acquisition, development, construction, ownership, and operation of subsurface hydrocarbon storage assets and related pipelines in North America, with a primary focus on the U.S. Gulf Coast. The company has partnered with North America's oldest dedicated midstream private equity investor, Energy Spectrum Capital, who also brings substantial midstream experience to the Caliche board. Together, the team offers a mixture of deep industry knowledge, positioning the partnership for successful development and ownership. More information about Caliche Development Partners, LLC and Caliche Coastal can be found at www.calichestorage.com/caliche-coastal.html. More information about Energy Spectrum Capital can be found at http://www.energyspectrumcapital.com.