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Inter Pipeline acquires multinational European bulk liquid storage business

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Inter Pipeline’s European storage subsidiary, Inter Terminals, has entered into an agreement to acquire NuStar Energy’s European bulk liquid storage business, NuStar Europe, for $270mn.

Commenting on the deal, Christian Bayle, Inter Pipeline's President and Chief Executive Officer, said: ‘The acquisition materially increases our overall storage capacity and establishes Inter Terminals as the largest independent storage operator in the UK. Furthermore, the transaction provides an attractive entry into the port of Amsterdam. The port is the world's largest gasoline blending hub and has experienced significant storage growth over the years.’

NuStar Europe consists of seven coastal terminals totalling 9.1mn barrels of storage. One terminal is located in Amsterdam, the Netherlands, with the remaining facilities located in the UK – near London, Runcorn, Eastham, Grangemouth, Clydebank and Belfast.

The 3.8mn barrel state-of-the-art terminal in Amsterdam plays a key role in the port of Amsterdam (pictured), with approximately 10% of the independent storage capacity. The terminal provides gasoline, gas oil and fuel oil storage, and blending services, including those required to produce IMO 2020 compliant marine fuels.

In the UK, the 1.9mn barrel Grays terminal is strategically located on the River Thames and serves the greater London area. Grays is a key regional supply point, responsible for handling approximately 17mn b/d of refined products, and provides access to London's fuel distribution network. The smaller terminals at Belfast, Eastham, Grangemouth, Runcorn and Clydebank in the UK primarily support the distribution of petrochemicals, gasoline, diesel and sulphur to regional demand centres.

The deal will increase Inter Terminal's storage capacity by approximately 33%, to 37mn barrels.

Amsterdam facility
Photo: Inter Pipeline

News Item details


Journal title: Petroleum Review

Countries: Netherlands - Europe - UK -

Subjects: Transport fuels, Bulk storage, Shipping

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