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WORLD NEWS
HYDROCARBON
ENGINEERING
USA |
Refined product terminal acquisition
A
wholly owned subsidiary of
PBF Logistics LP has entered into
an agreement to acquire four refined
product terminals located in the
greater Philadelphia region (the East
Coast Terminals) from an affiliate
of Plains All American Pipeline, L.P.
for a total consideration of
US$100 million.
This acquisition expands the
partnership's storage and terminalling
footprint and introduces third party
customers to the partnership's
revenue base. The acquisition is
expected to close in 2Q16, subject to
customary closing conditions.
Located in the Philadelphia
market, the East Coast Terminals
provide a critical link for the
approximately 1.3 million bpd of
refining capacity located within
100 miles of the terminals and
associated downstream demand.
In conjunction with the
transaction, the partnership expects
to invest approximately
US$5 million, from cash on hand, to
improve infrastructure in order to
increase throughput capability at the
East Coast Terminals.
The assets to be acquired include
a total of 57 product tanks with a
total shell capacity of approximately
4.2 million shell bbls, pipeline
connections to the Colonial,
Buckeye, Sunoco Logistics and other
proprietary pipeline systems,
26 truck loading lanes and marine
facilities capable of handling barges
and ships.
The Netherlands |
Terminalling assets
Z
enith Energy has announced that
it has signed an agreement to
acquire a liquids storage terminal
facility in Amsterdam from BP plc.
Zenith anticipates taking ownership
of the terminal by the end of 1Q16,
following a transition process.
The terminal assets are
strategically located on the
North Sea Canal in the Amsterdam,
Rotterdam and Antwerp (ARA)
region. This region represents the
largest concentration of refining
capacity in Europe and one of the
largest refined product trading hubs
in the world. The facility has storage
capacity of more than 6 million bbls
for gasoline, ethanol, middle
distillates, biodiesel, kerosene and
LPG, with capabilities for
sophisticated blending, connectivity
for ocean vessels, inland waterways
and trucks, and deep draft to service
oceangoing tankers up to 135 000 t,
with multiple berths for barges and
ships. The facility has the leading
truck loading facility in Amsterdam
and significant room for expansion
projects. It is also an approved
delivery point for ICE gasoil futures
contracts.
This acquisition increases
Zenith's geographic expansion,
following its acquisition of the
Bantry Bay terminal in West Cork,
Ireland, from Phillips 66 in
February 2015.
Zenith is pursuing opportunities
to buy, build and operate petroleum
liquids and petrochemical terminals
and related logistics, including
distribution assets that support
terminals, such as pipelines, truck
racks and barges, primarily in
Latin America, the Caribbean,
Europe and Africa.
BP is expected to remain a
significant customer of the terminal
after transferring ownership to
Zenith.
USA |
Cryogenic tank construction
M
atrix Service Company has
announced that its subsidiary,
Matrix Service Inc., has been
awarded a contract for the
engineering, procurement,
fabrication and construction of a
1 million gal. LNG cryogenic tank for
the second Eagle Plant in
Jacksonville, Florida. The first plant is
the previously announced Export
Project currently in the FERC
process. Eagle LNG, a leader in the
micro-liquefaction industry, is a
wholly owned subsidiary of Ferus
Natural Gas Fuels LP.
Engineering on the project has
commenced, with cooldown
targeted for early 2017.
LNG transportation fuels offer
significant environmental and
economic benefits across a host of
industries and, consequently,
demand is expected to increase.
Eagle LNG is building LNG
infrastructure across the US to meet
these needs.
USA |
Construction management contract
F
luor Corporation has announced
that it was awarded a
construction management contract
by Sunoco Logistics for the Mariner
East 2 project at its Marcus Hook
Industrial Complex on the Delaware
River in Pennsylvania. Fluor booked
the undisclosed contract value into
backlog in 4Q15.
Upon completion, Mariner East 2
is anticipated to provide an additional
275 000 bpd of natural gas liquids
(NGLs) for distribution to local,
domestic and international markets.
Fluor will manage the construction of
new terminal facilities to store, chill,
process and distribute propane,
butane and ethane at the complex.
The project will leverage
innovative construction
methodologies, including a project
wide collaboration platform to
streamline processes and facilitate
execution with increased efficiency.
