Limetree Bay Terminals, LLC (“LB Terminals”) is the new owner of the former Hovensa oil terminal at Limetree Bay, St. Croix, U.S. Virgin Islands in the Caribbean. LB Terminals is a joint venture between an affiliate of ArcLight Energy Partners Fund VI, L.P. (“ArcLight”) and an affiliate of Freepoint Commodities, LLC (“Freepoint”). ArcLight manages and owns an 80% interest in LB Terminals; Freepoint owns a 20% interest in LB Terminals.

LB Terminals is committed to continuing the site’s legacy of safe and environmentally sound practices. LB Terminals employees and contractors make both Safety and Environmental Stewardship the first requirement of every activity.

The LB Terminals facility consists of approximately 32 million barrels of crude oil and petroleum product storage, idled refinery units with total peak processing capacity of 650 thousand barrels per day, a deep-water port with 10 petroleum docks, 1 bulk product dock, six tug boats, and various associated equipment and inventory.

In the initial restart phase, the terminal in the U.S. Virgin Islands, with a maximum 32-million-bbl storage capacity, will bring on 13 million bbl of storage. The first 13 million barrels of capacity is committed to Sinopec, Freepoint Commodities and various other customers.

In the second phase, another 13 million bbl of storage capacity will be brought onstream, depending on demand from potential customers. LB Terminals can store and blend crude as well as store gasoline, diesel, propane, jet fuel and fuel oil. Limetree Bay has the potential to be a “choice terminal” in the Caribbean for clean oil products due to its location relative to South America, in-line/closed loop blending capabilities and ship berths that are protected from weather.

About ArcLight Capital Partners, LLC

ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, we helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. We have invested over $16 billion in over 95 transactions since inception, generating strong realized returns for our limited partners from over 60 exits across diverse market cycles. Based in Boston, our investment team targets midstream, power and production opportunities with substantial growth potential, significant current income and meaningful downside protection, typically on a proprietary basis. We employ a hands-on value creation strategy that utilizes our in-house technical, operational and commercial specialists as well as our 400-person asset management affiliate.

About Freepoint Commodities, LLC

Founded in 2011, Freepoint is based in Stamford, Connecticut with over 300 employees worldwide. Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets. Freepoint also provides physical supply services and related structured solutions for counterparties. Freepoint is owned by private equity funds managed by Stone Point Capital, members of Freepoint's management and senior employees.