Expanding the Matrix model to the world’s most active crude oil trading hub.
Cushing is the world’s most active crude oil trading hub and the delivery point for the Chicago Mercantile Exchange’s (CME’s) West Texas Intermediate (WTI) crude futures contract—a benchmark price for crude oil around the world.
In March 2017, Matrix Global Holdings, M2 Infrastructure and TransCanada announced an agreement to build and operate new crude oil storage tanks on TransCanada’s interconnected facilities, with capacity of 6.2 million barrels. This initiative is taking the Matrix model to the next level as the company will be building, operating and transacting the crude oil storage facility.
After completion of this project, the Matrix model will be operational in the two largest storage facilities in the U.S. and in the top five storage locations in the world.
See the press release.
The innovative Matrix model is scalable and easily expanded to many other kinds of commodities and transactions, making it a perfect solution for buying and selling storage capacity around the world.