In the US Blackwater Midstreams subsidiary Blackwater New Orleans has reached an agreement for the lease of 55,000 barrels of storage capacity for chemical product service at its Westwego, Louisiana facility.
The new agreement is scheduled to commence on 1 Septembe rand is expected to add approximately half a million dollars in annual revenues.
Blackwater completed the acquisition of NuStar Energys storage terminal in Westwego, Louisiana in December 2008.
We have reached a point where we now plan to initiate the expansion of the facility through new tank construction, Frank Marrocco, COO at Blackwater Midstream, states. The tank foundations are already in place to add up to 120,000 barrels of new capacity.
Blackwater Midstream, through Blackwater New Orleans, is an independent operator of a bulk liquid storage terminal in the Port of New Orleans.
The Westwego facility consists of 752,000 barrels of storage capacity, capable of storing a variety of chemical and petroleum products. The site offers marine, rail, and truck access for product distribution.