| Buckeye concludes $860M buyout; Trafigura AG keeps 20% | Buckeye concludes $860M buyout; Trafigura AG keeps 20% | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=3035 | 2014-09-18T13:49:00Z | 2014-09-18T00:00:00Z |
CORPUS CHRISTI - International trading company Trafigura AG sold 80 percent of its interest in Corpus Christi to Buckeye Partners, a Houston company that specializes in the transportation, storage and marketing of liquid petroleum products.
The transaction was for $860 million.
Under terms of the agreement, Trafigura, a subsidiary of Singapore-based commodities trading giant Trafigura Beheer B.V., will maintain 20 percent interest in Trafigura Terminals and keep commercial rights to use the assets.
Among them are Texas Dock & Rail, a deep-water, high-volume marine terminal located on the Corpus Christi Ship Channel; EF90, a 50,000-barrel condensate splitter and liquefied petroleum gas storage complex; and Trafigura Field Services, its crude-gathering facilities that serve the Eagle Ford shale play
Buckeye Texas Partners LLC is the name of the joint venture.
Trafigura signed a series of seven- to ten-year commercial contracts with the joint venture to transport commodities under a fee-based model. All 100 former Trafigura employees will join Buckeye Texas Partners.
Read more at the Houston Business Journal and Corpus Christi Caller-Times.
| San Antonio Business Journal
| Corpus Christi
| Infrastructure ＆ Transportation
| http://www.bizjournals.com/sanantonio/blog/eagle-ford-shale-insight/2014/09/buckeye-concludes-buy-out-of-eagle-ford-shale.html | | | | Read more at {Source} |
