North America Crude Markets short-term outlook: ‘SPOT’ light on offshore export terminal FID

The US crude export story entered the next chapter in July when a major final investment decision was reached on the first dedicated offshore crude export terminal – highlighting the confidence from the midstream sector that the export growth story still has room to run. In this update we explore details of the Enterprise offshore project and how it stacks up against competing projects. In this update we also explore: -Is another Permian pipeline on the precipice of FID, and what would that do to the pipeline balance? -We incorporate additional information into export capacity estimates for Corpus Christi terminals – reducing concerns around potential 2020 bottlenecks New Canadian egress capacity in 2020? -We explore some of the expansion proposals on the table