The United States Government considered in its budget for fiscal year 2021 the delivery of more than USD100 million for the Port of Corpus Christi’s Canal Improvement Project (CIP) under the Civil Works Division of the U.S. Army Corps of Engineers (USACE).
Sean Strawbridge, Executive Director of the Port of Corpus Christi, noted that “the funding of the Corpus Christi Ship Channel Improvement Project in the President’s proposed FY 2021 budget is a nod to the energy independence of Texas and the nation, and conveys the market’s certainty to our clients that the Port of Corpus Christi is the premier gateway for U.S. energy exports for years to come.
The proposed $100 million budget represents an increase from previous budgets. The CIP received $53 million in the 2020 federal budget and $13 million in the 2019 federal budget. In addition, USACE included $23 million in its 2018 Work Plan and $59 million in the 2019 Work Plan.
Completion of the CIP in Corpus Christi will allow for the safe passage of larger vessels carrying higher volumes of oil and natural gas exports from the United States.
In January 2019, the USACE awarded CIP Contract 1, the first of four phases, to Great Lakes Dredge & Dock Company, LLC, to deepen and widen the Corpus Christi Ship Channel (CCSC) from the Gulf of Mexico to Harbour Island. Contract 2 is expected to be awarded in March 2020.
The Port of Corpus Christi exported more than $20 billion of crude oil in 2019 alone, reducing the trade deficit by nearly $400 billion.