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  • Sale of Interest in Oiltanking Partners to Enterprise Products Partners
    édité le 01/10/2014 - Plus de news de "Oiltanking" - Voir la fiche entreprise de "Oiltanking"

Sale of Interest in Oiltanking Partners to Enterprise Products Partners
Oiltanking announces the sale of all of its interest in Oiltanking Partners L.P. (“Oiltanking Partners”) to Enterprise Products Partners L.P. (“Enterprise”). Oiltanking Partners, through its wholly owned subsidiaries, Oiltanking Houston and Oiltanking Beaumont, owns and operates tank storage assets located on the Houston Ship Channel and in Beaumont, Texas.

Oiltanking is maintaining a strong presence in the United States through its ownership and/or operation of terminals in Texas City and Port Neches, Texas and Joliet, Illinois. In addition, the group will continue to retain and grow other strategic assets in the United States, including the two dry bulk terminals of United Bulk Terminals in Davant, Louisiana and Corpus Christi, Texas as well as Newsco International Energy Services and Bomin.

The sales price was partly paid in cash and partly in Enterprise common units. All affected employees of Oiltanking will have the opportunity to continue their employment with Enterprise.

Christian Flach, Managing Director of Oiltanking: “The sale of our interests in Oiltanking Partners reflects the outstanding entrepreneurial achievement of our U.S. team in the past decades as well as the potential of the shale oil and gas boom. While we never had the intention to sell these assets, we did accept the Enterprise offer because we were fully convinced that this is an extraordinary opportunity for us. Importantly, the after tax cash proceeds of the transaction will remain in our group to further strengthen our solid financial position and to significantly foster our long-term growth, both in the United States and internationally."

Oiltanking has been providing Enterprise with a variety of services in the Gulf Coast for over 30 years and will continue the long-term relationship as an Enterprise unit holder. This transaction will strengthen Enterprise’s position as a leading midstream energy company in North America, and enhances its ability to capitalize on the ongoing renaissance in the U.S. energy industry. Furthermore, it will provide customers with enhanced services and superior connectivity to domestic and international export markets for a variety of petroleum products.

Oiltanking will remain the world’s second largest independent storage company for oils, chemicals and gases with 72 terminals in 23 countries and will continue to provide customers with flexible, safe and efficient services.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (NYSE:EPD) is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership’s assets include approximately 52,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity.

About Oiltanking

Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 72 terminals in 23 countries within Europe, North and South America, Middle East, India as well as Asia. Oiltanking has an overall storage capacity of 19.2 million cubic meters.

Origine : Communiqué Oiltanking

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