A majority interest in the GT Omniport Terminal in Texas has been acquired by Maverick Terminals, a subsidiary of Howard Midstream Energy Partners.
GT Logistics, who Maverick acquired the majority stake from, will maintain a minority interest in the facility.
The terminal, located near Port Arthur, Texas, currently handles crude oil but will be expanded to receive, blend, store and re-deliver refined products and natural gas liquids. It features 450 acres of land, four storage tanks with a combined capacity of 230,000 barrels, more than eight miles of rail and a barge dock.
Additional storage capacity, interconnectivity to local refined products and crude oil pipelines, and up to four deep water docks have been planned and are being engineered.
Mark Helmke, senior VP of terminals and transportation for Howard Energy Partners says: ‘We see lots of development potential in the Port Arthur area and this acquisition is a continuation of our plan to expand our geographic presence and build a diversified portfolio of world-class assets.’