Howard Energy Partners makes majority interest acquisition

Howard Midstream Energy Partners, LLC (HEP) has announced that its subsidiary, Maverick Terminals, LLC, has acquired a majority interest in the GT Omniport Terminal from GT Logistics, LLC. GT Logistics will keep a minority interest in the facility. The terminal is located near Port Arthur, Texas, near numerous refineries, chemical plants and pipelines in the area. It features 450 acres of land, over eight miles of rail including a unit train loop and railcar unloading facilities, four storage tanks with a capacity of 230 000 bbls, a barge dock, and over 3000 ft of deep water frontage, which can be used to build multiple docks for ocean going vessels.

The terminal currently handles oil but is going to be expanded to receive, blend, store and redeliver refined products and NGLs. Additional storage capacity, interconnectivity to local refined products and crude oil pipelines, and up to four deep water docks are being engineered and planned.

In addition to this majority interest, HEP owns and operates bulk liquid terminal facilities in Three Rivers, Texas and the Port of Brownsville, Texas.

Comments

Mark Helmke, Senior Vice President, Terminals and Transportation, Howard Energy Partners, said, “we are excited to enter into this venture with GT Logistics, who have built a first class platform for growth. 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.”

Edited from press release by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/29072015/majority-interest-gt-omniport/