Guest Columnist
While the global energy marketplace continues to change in far-reaching and dynamic ways, the Delaware River port complex is uniquely positioned to serve as one of this nation’s more innovative energy transportation hubs.
Our local petroleum industry enjoys an adaptive and resilient nature, amply evidenced by the creative and visionary spirit shown by business leaders and investors who worked in concert with labor and public officials to affect necessary positive change.
The end result is our region’s resurgence as an energy hub. The Sunoco Logistics Mariner East I and II projects are expected to cost in the neighborhood of $3 billion and have a $4.2 billion impact on the Pennsylvania economy. The projects will support approximately 400 permanent jobs according to an analysis for Sunoco Logistics done by Econsult Solutions of Philadelphia.
Equally important has been the reopening of the Delaware City Refinery. Compared to fourth quarter 2014, relative crude prices currently favor marine deliveries and may result in an additional three to four vessels per month.
Delta Airlines, which acquired the once-shuttered ConocoPhillips facility in Trainer, Pa., and is operating it as Monroe Energy, is also thriving. Monroe posted second quarter 2015 earnings of $90 million.
This irrepressible flexibility demonstrates our port community’s capacity to acclimate to dramatic changes in ways that energy is both produced and consumed throughout our country and the world.
A major conference scheduled to take place in Philadelphia on Nov. 5 will address these themes and more.
Hosted by the Global Interdependence Center, the conference, titled “Energy Interdependence in the Western Hemisphere,” will focus on physical and financial infrastructures of midstream energy companies, new energy trade patterns, and our region’s potential to claim a vital role in the achievement of energy interdependence in the Western Hemisphere. (See interdependence.org/events.)
This conference should provide an exceptional opportunity to view energy transportation changes occurring on the Delaware River with new eyes and a fresh, clear perspective. Several factors, including the development of Mariner East and the soon-to-be-completed 45-foot channel deepening project, are pieces of the puzzle that contribute to an exciting environment for our region to become a key player as an energy and transportation center.
Dennis Rochford is president of the Maritime Exchange for the Delaware River and Bay.
