$500M dropdown deal includes port assets

​​​​PORT ARTHUR – San Antonio-based mid-stream company Valero Energy Partners LP bought a 141-mile pipeline and 47 storage tanks from its parent company Valero Energy Corp. as part of $508 million dropdown deal.

The deal gives Valero Energy Partners control of 47 storage tanks that can hold a combined 8.5 million barrels of crude oil, intermediates and refined petroleum products.

The 141-mile Parkway Pipeline is a 16-inch refined petroleum products pipeline linking Valero’s refinery in St. Charles, Louisiana with the Plantation and Colonial pipeline systems in Collins, Mississippi. 

The Parkway Pipeline currently has 110,000 barrels per day of capacity, with the ability to expand to more than 200,000 barrels per day.