The port reported a 21% increase in refined products year-on-year and 15% increase in total crude oil shipments over the previous year.
Port Corpus Christi is the largest port in the United States in total revenue tonnage. It achieved a new annual tonnage record of 187.9m tonnes – a 12% increase over 2021 volumes.
Crude averaged a record 2m barrels of export volumes per day in 2022, an increase over its 2021 record average of 1.76m barrels per day. Petrochemicals exports increased 23% year-on-year, reaching 3m tonnes for the year.
Notably, LNG exports have doubled since 2020 and increased 3.5% in 2022 compared to 2021. Cheniere’s Corpus Christi Liquefaction facility announced its Phase 3 expansion in 2022, which will increase LNG exports by another 12m tonnes per year over its current 16m tonnes today.
“The continuing trust of our industrial partners and overseas allies in our ability to deliver essential goods and services underscores the critical role the Port of Corpus Christi serves in the global trades,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.
“We do expect a leveling off volume growth in 2023 as more indications of a global recession persist. However, the Port of Corpus Christi remains committed to its Capital Investment Programme in 2023 and beyond, and we expect new investments and new energy initiatives to continue long after recessionary pressures ease.”
In December, the Port of Corpus Christi hit an all-time high for crude oil exports, exceeding 70m barrels in a month for the first time in its history. In 2022, the Port of Corpus Christi accounted for roughly 60% of all crude oil exports, according to research firm RBN Energy.
Continued infrastructure investments include the Corpus Christi Ship Channel Improvement Project, which once completed in 2024 will render the Corpus Christi Ship Channel the deepest and widest ship channel in the entire US Gulf. Work on Phases two and three of this four-phase projects are ongoing.
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