Summit Terminaling has secured an equity commitment led by EIV Capital that will allow it to build, own and operate terminal assets in the US.
Summit, a growth-oriented energy infrastructure company focused on acquiring and developing bulk liquid terminal projects, is led by Mike Turchi, Seve Turchi and Melissa Dugan. It offers multi-faceted services to the upstream, midstream and downstream sectors including producers, refiners, manufacturers, traders, processors, terminal operators and end-users of bulk liquid commodities offering all modes of transportation.
With more than 30 terminals developed to date, Summit’s diverse product experience includes crude oil, refined products, petrochemicals, LPG, base oils, asphalts, fertilisers and renewable fuels.
Mike Turchi, CEO of Summit Terminaling, says: ‘We are excited to be partnered with EIV and their team of seasoned industry professionals. The principals of Summit have devoted the majority of their 35+ year careers to this space and have hands on experience across the entire carbon chain. Our partnership with EIV provides Summit with an enhanced platform to continue our strategy to build a portfolio of owned and operated terminal assets.’
EIV Capital co-founder and managing partner Patti Melcher adds: ‘Given that US oil and gas production and volumes of refined products and chemicals continue to increase, Summit will provide the logistics and storage necessary to alleviate bottlenecks in constrained marketplaces.’