INGLESIDE, Texas — Another purchase of land and facilities in Ingleside by Enbridge could mean a jump in property tax revenues for the city.
This is not the first investment in Ingleside by Enbridge as the company purchased Moda Midstream's marine terminal about three years ago.
The purchase of two neighboring marine docks and property nearby indicates Enbridge's expectations of future growth which could mean a boost for the city.
"The product itself is dependent on how much oil is in the tanks at the time the new year starts," Ingleside City Manager Brenton Lewis said. "And that's where the calculation gets a little bit different because it's on the volume of the product that's in the tanks."
The former Moda Midstream facility, now called the Enbridge Ingleside Energy Center, has the distinction of being the single biggest exporter of oil in the entire U.S.
Lewis said that because of the export record of the company, that could mean a substantial difference in future taxes.
"By adding these two docks to it, that allows them to be a little bit farther away from any other incorporated cities, which is always a plus too," he said.
Recently, as part of planned annual investments nationwide, Enbridge purchased two marine docks and land in Ingleside from Flynt Hills Resources for around $200 million.
Pipelines owned by Enbridge converge on Ingleside from around the country.
In a statement to 3NEWS, Enbridge says the acquisition further expands what is already the largest oil storage and export terminal by volume in the country:
"The acquisition of two marine docks and a parcel of land adjacent, further expands this important facility– already the largest oil storage and export terminal by volume in the U.S. By supplying abundant, cost-competitive and sustainable conventional energy sources, we're delivering the energy people need while also supporting local communities and helping nations meet global emission targets."
Lewis says citizens will reap benefits of Enbridge's expansion of the oil export terminal.
"Anything from athletic facilities all the way up to more emergency response for that area," he said. "The portion that's not at the dock area. We are excited to find out that they had purchased that area because we are working with them on different ideas what they would like to see, also what the cities in this area would see."
Although development of the adjacent land is expected soon, there's no indication yet from Enbridge on what the land will be used for.