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Trafigura AG to sell a majority stake in its Corpus Christi Terminal


Published Sep 4, 2014
Trafigura AG

Trafigura AG has signed an agreement for the sale of 80 percent of its membership interests in the entity which holds its South Texas midstream assets, Trafigura Terminals LLC, to Buckeye Partners, L.P. (Buckeye), experts in the transportation, storage and marketing of liquid petroleum products. The total transaction value agreed was USD860 million before customary post-closing adjustments. Closing of the transaction is subject to pending regulatory approval.

Trafigura AG will maintain a 20 percent interest in Trafigura Terminals LLC and retain commercial rights to use all of the assets which include; Texas Dock & Rail (deep-water, high volume marine terminal located on the Corpus Christi Ship Channel), EF90 (a condensate splitter and LPG storage complex), and Trafigura Field Services (crude gathering facilities serving the prolific Eagle Ford shale play).

Tags: Trafigura AG




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