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BP seeks buyers for US pipelines and terminals

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Hydrocarbon Engineering,

BP Plc is reported to be seeking buyers for as much as US$2 billion of US pipelines and storage terminals.

In the last two weeks, BP has allegedly sent offering materials to potential buyers of two batches of assets - its interest in four pipelines and a gas plant along the Gulf of Mexico, and 15 storage terminals in the Midwest and on the East Coast.

BP is said to be looking to sell stakes in three Gulf of Mexico assets it co-owns with Enterprise Products Partners LP: the Wilprise and Tri-States Pipelines and the Pascagoula Gas Processing Plant.

BP is also seeking to sell its stakes in the Destin and Okeanos Gas pipelines, which it co-owns with Enbridge Inc., according to reports.

Edited from various sources by Elizabeth Corner

Sources: ReutersRTT News

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