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Carlyle Group pulls out of South Texas oil terminal project

5 months 2 weeks 6 days ago Friday, October 18 2019 Oct 18, 2019 October 18, 2019 3:52 PM October 18, 2019 in News - AP Texas Headlines

CORPUS CHRISTI, Texas (AP) - A Washington, D.C.-based multinational investment group behind a $1 billion crude oil export terminal project near Corpus Christi is withdrawing from the endeavor.

The Carlyle Group announced its withdrawal in a terse statement issued Friday. Carlyle had joined with The Berry Group, a Corpus Christi-based oil and gas contractor, to form a joint venture called Lone Star Ports LLC. The consortium was to head development of what's described as the nation's first onshore export terminal designed to handle the biggest supertankers.

The Carlyle statement says Berry and Lone Star plan to continue developing the Harbor Island project between Port Aransas and Aransas Pass. The Berry Group is the largest private employer in the Corpus Christi area.

Port Aransas city officials and local conservation and environmental groups have resisted the project.

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