Buckeye Partners, L.P. has completed its $860 million purchase of an 80 percent interest in Buckeye Texas Partners LLC.

Buckeye Texas Partners LLC and its subsidiaries, which are owned jointly with Trafigura AG ("Trafigura"), will own and operate a vertically integrated system of midstream assets including a deep-water, high volume marine terminal located on the Corpus Christi Ship Channel, a condensate splitter and LPG storage complex in Corpus Christi and three crude oil and condensate gathering facilities in the Eagle Ford shale.

Trafigura will be a key customer of these assets under 7- to 10-year minimum volume throughput, storage and tolling agreements.

Tags: Buckeye Partners