Buckeye Partners buys interest in Trafigura’s Corpus Christi terminal complex, other assets for $860 million

Houston-based Buckeye Partners LP NYSE: BPL said Sept. 2 it will acquire an 80 percent interest in an entity that holds a Corpus Christi terminal complex and other assets for $860 million.Trafigura AG, a wholly owned subsidiary of Dutch commodity trading company Trafigura Beheer BV, sold the interest in Trafigura Terminals LLC and will maintain a 20 percent interest in the entity. The deal is expected to close later this month.The entity, which will be called Buckeye Texas Partners, and its subsidiaries will own and operate a vertically integrated system of midstream assets including a deep-water, high volume marine terminal on the Corpus Christi Ship Channel, a condensate splitter and liquefied petroleum gas storage complex in Corpus Christi, and three crude oil and condensate gathering facilities in the Eagle Ford shale.

via Buckeye Partners buys interest in Trafigura's Corpus Christi terminal complex, other assets for $860 million – Houston Business Journal.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s