Shell Midstream Partners has acquired five products terminals and a partial interest in four pipelines.
The company entered into a purchase and sale agreement to acquire from wholly owned subsidiaries of Shell for five products terminals as well as partial interest in two Gulf of Mexico corridor pipelines and two strategic onshore pipelines for $825 million.
The acquisition closed in December 2017.
The assets include:
- 100% interest in Triton West, which owns the Anacortes, Colex, Des Plaines, Portland and Seattle products terminals, which all have take-or-pay contracts with wholly owned subsidiaries of Shell.
- A 22.9% interest in Mars Oil Pipeline Company and a 22% interest in Odyssey Pipeline, both of which serve high growth areas in the Gulf of Mexico. Shell Midstream owns 71.5% of Mars and 81% of Odyssey.
- A 10% interest in Explorer Pipeline Company and a 41.48% interest in LOCAP.
A new player in the European marketInvesting in signficant potential on the Thames M&A activity surges on new found confidence Storage terminal investors: a decade of change Oil breakout in 2017 to gain momentum in 2018 IPTF terminal: defying the odds in the Middle East Alternative gateway to Europe Europe: a flexible storage market The storage outlook Overfill protection: A review of API 2350 4th & 5th edition