Trafigura AG, a leader in international commodities trading and logistics, announced that it 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") (NYSE: BPL), 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).

"This transaction demonstrates the value of our infrastructure investments in South Texas," said Trafigura AG's Jeff Kopp, Head of North America Oil Trading. "Buckeye is an ideal partner for us as they have been operating midstream assets for over 125 years and they currently operate approximately 6,000 miles of pipeline and more than 120 terminals in the US and the Caribbean. Trafigura will continue to provide marketing and transportation solutions to the producing community and combined with our other splitter investment in Corpus Christi we believe we are well positioned to provide maximum optionality to the market in South Texas."

"This acquisition demonstrates our continued efforts to develop new midstream platforms in key areas with significant growth potential," added Buckeye's President, Global Marine Terminals, Khalid Muslih. "We are excited about the opportunity to partner with Trafigura AG and to position ourselves in the rapidly growing Corpus Christi and Eagle Ford markets."

Citigroup served as exclusive financial advisor to Trafigura in connection with the transaction.

About Trafigura AG

Trafigura AG is a wholly owned subsidiary of Trafigura Beheer BV ("Trafigura"). Trafigura is one of the world's leading international commodity traders, specializing in the oil, minerals and metals markets, with operations in 58 countries. Trafigura's primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, coal, refined metals, ferrous and non-ferrous ores and concentrates. It is the world's second largest privately owned non-ferrous and oil trading company. Founded in 1993, the company is owned by its founding shareholders and senior management. It has achieved substantial growth in recent years, growing turnover from US$18 billion in 2004 to US$133.00 billion in 2013.

About Buckeye Partners, L.P.

Buckeye Partners, L.P. (NYSE: BPL) is a publicly traded master limited partnership and owns and
operates a diversified network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, and marketing of liquid petroleum products. Buckeye is one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered with approximately 6,000 miles of pipeline and more than 120 liquid petroleum
products terminals with aggregate storage capacity of over 110 million barrels across our portfolio of pipelines, inland terminals, and an integrated network of marine terminals located primarily on the U.S.
East Coast and in the Caribbean. Buckeye’s flagship marine terminal in The Bahamas, BORCO, is one of the largest marine crude oil and petroleum products storage facilities in the world and provides an array of logistics and blending services for the global flow of petroleum products. Buckeye’s network of marine terminals enables it to facilitate global flows of crude oil, refined petroleum products, and other commodities, and to offer its customers connectivity to some of the world’s most important bulk storage and blending hubs. Buckeye is also a wholesale distributor of refined petroleum products in areas served by its pipelines and terminals. Finally, Buckeye also operates or maintains third-party pipelines under agreements with major oil and gas, petrochemical and chemical companies, and performs certain engineering and construction management services for third parties.