King & Spalding, a leading international law firm, advised Enterprise Products Partners L.P., TEPPCO Partners, L.P., and Oiltanking Holding Americas, Inc., on their joint venture to build a new off-shore crude oil terminal in the Gulf of Mexico. The new partnership, known as the Texas Offshore Port System (“TOPS”), will provide refiners with greater flexibility and enhanced reliability in the face of expected increases in ship traffic at onshore ports along the Texas Gulf Coast.
In addition to its role as counsel on the joint venture agreement, King & Spalding also advised on two crude oil throughput agreements with customers Exxon Mobil Corporation and Motiva Enterprises LLC.
TOPS comprises an offshore port, two onshore storage facilities with approximately 5.1 million barrels of total crude oil storage capacity, and an associated 160-mile pipeline system with the capacity to deliver up to 1.8 million barrels per day (BPD) of crude oil. Service is scheduled to begin in the fourth quarter of 2010, pending regulatory approval.
William “Pete” Musgrove, a counsel in King & Spalding’s Houston office, was the lead attorney advising TOPS on this matter. Partner Dan Rogers, counsel John Crespo and associate Monica Hwang also advised on the matter.
An industry leader in oil and gas matters, King & Spalding assists clients with oil and gas transactions, cases, arbitrations and other matters, making the firm one of the most active in the arena. The firm has special expertise in M&A, international arbitration, royalty and qui tam suits, LNG and gas transactions, as well as in oil field and mass tort litigation. Chambers Global: The World’s Leading Lawyers named the firm one of the top energy and natural resources law firms in the United States.
King & Spalding is an international law firm with more than 800 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh (affiliated office), San Francisco, Silicon Valley and Washington, D.C. The firm represents half of the Fortune 100 and in a Corporate Counsel survey in September 2007 was among the top firms representing Fortune 250 companies. For additional information, visit www.kslaw.com.