NuStar Energy L.P. has signed a long-term lease agreement with Shell Oil Products U.S. for storage at its Houston (TX) Asphalt terminal. The company also announced a five-year agreement with HollyFrontier Refining & Marketing, LLC to lease its Rosario (NM) and Catoosa (OK) asphalt terminals. NuStar completed the divestiture of its asphalt joint venture operations in February, but maintained ownership of these three terminals as part of the transaction.
NuStar's agreement for the Houston asphalt terminal took effect on May 1, 2014. NuStar's Houston Asphalt terminal consists of 85,000 barrels of heated asphalt storage, the Houston Ship Channel barge dock, an automatic two-bay truck loading rack, two-bay truck offloading racks and a state-of-the-art Polymer-Modified Asphalt (PMA) mill.