US-based midstream logistics and storage operator Buckeye Partners has completed the purchase of a refined petroleum products terminal in Opelousas, Louisiana, from Chevron USA.
The terminal is connected to Colonial Pipeline and supplies central Louisiana with branded petrol, diesel, and ethanol. Additionally, as a long-term participant in this market, Chevron has made a multi-year commitment to maintain its historic product volumes at the terminal.
We believe this acquisition will create additional synergies between our terminalling and storage business segment and our development and logistics business segment, which currently operates or maintains approximately 2,400 miles of pipeline in the Gulf Coast region, Clark C Smith, president and chief operating officer of Buckeyes general partner, says.
Furthermore, we have already seen substantial industry interest in a potential expansion of the terminal that would accommodate the needed supply in the Alexandria LA to Lafayette LA corridor.
Source: Bulk Transporter