Vitol Ams. Corp. v. Targa Channelvtew Llc

Vitol Ams. Corp. v. Targa Channelvtew Llc

Opinion

FINDINGS OF FACT AND CONCLUSIONS OF LAW

The Court makes the following findings of fact and conclusions of law. To the extent any finding of fact addresses an issue of law it is intended to constitute and should be construed as a conclusion of law on such matter. Likewise, to the extent any conclusion of law entails a factual determination, it is intended to constitute and should be construed as a finding of fact on such matter. Further, to the extent any finding of fact or conclusion of law is made regarding one cause of action, it is intended to constitute a finding of fact or conclusion of law regarding another cause of action where applicable.

Findings of Fact

Breach of Contract

1. Plaintiff Vitol Americas Corp, ("Vitol" or "Plaintiff") is a global energy trading company that, among other things, specializes in trading and distribution of energy products from production through retail. In January 2018, Vitol's parent company purchased Noble Americas Corp. ("Noble") and soon-after changed Noble's name to Vitol Americas Corp.¹

2. Defendant Targa Channelview LLC ("Targa" or "Defendant") [*2]  is a midstream resource management company that operates terminals, processes natural gas, and processes crude oil and condensate.

3. On December 27,2015, Targa and Vitol entered into an Amended and Restated Purchase, Sale, Terminaling and Storage Agreement (the "Splitter Agreement" or "Agreement").

4. Under the Agreement, Vitol agreed to sell to Targa crude oil and condensate meeting certain specifications. Targa would then process the crude oil and condensate through a new splitter facility ("Splitter Facility") to be constructed at its Channelview marine terminal ("Terminal").

5. The Splitter Facility was to be designed and constructed to discharge 35,000 barrels per day of Splitter Products, meeting certain specifications set out in the Agreement.

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