US pipeline and terminal player Buckeye Partners has purchased an additional interest in West Shore Pipe Line Company.
Buckeye increased its ownership interest to 34.6% from 24.9%. Buckeye has paid approximately $13.4 million (10.2 million) for the additional ownership interest after BP sold its interest.
West Shore is a 650-mile common carrier petroleum pipeline system that originates in the greater Chicago area and transports refined petroleum products to northern Illinois and Wisconsin including the Madison and Green Bay, Wisconsin metropolitan markets. Buckeye has been the operator of the West Shore system since January 2009.
Buckeye Partners is a publicly traded partnership that owns and operates one of the largest independent refined petroleum products pipeline systems in the US in terms of volumes delivered, with approximately 5,400 miles of pipeline.
Buckeye also owns 67 refined-petroleum products terminals, operates and maintains approximately 2,400 miles of pipeline under agreements with major oil and chemical companies, owns a major natural gas storage facility in northern California, and markets refined petroleum products in certain of the geographic areas served by its pipeline and terminal operations.
