Skip to main content

TransMontaigne acquires refined product and crude oil terminals

Published by , Assistant Editor
Hydrocarbon Engineering,


TransMontaigne Partners L.P. has completed the previously announced acquisition of the Martinez Terminal and Richmond Terminal from an affiliate of Plains All American Pipeline, L.P.

As a result of the acquisition, TransMontaigne has expanded its storage and terminaling footprint into the San Francisco Bay Area refining complex. Plains will continue to operate the terminals on behalf of TransMontaigne until the company receives all permits and approvals necessary to operate the terminals, which are expected to occur by the end of February 2018.

TransMontaigne funded the purchase price for the West Coast acquisition with borrowings under its revolving credit facility. In connection with closing the acquisition, TransMontaigne amended the revolving credit facility to increase the lender commitments from US$600 million to US$850 million, and the lender commitments may be further increased under certain conditions to US$1.1 billion through an accordion feature.

Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/19122017/transmontaigne-acquires-refined-product-and-crude-oil-terminals/

You might also like

The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process

In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.

Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):