Magellan Midstream Sells Some Terminals, Expands Others as it Looks to Brighter 2021

SUGAR LAND--June 14, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Magellan Midstream Partners LP (NYSE:MMP) (Tulsa, Oklahoma) announced Thursday it had agreed to sell its independent terminals network, which comprises 26 refined petroleum products terminals with approximately 6 million barrels of storage, to Buckeye Partners LP (NYSE:BPL) (Houston, Texas) for $435 million. These terminals are "independent" because they are not attached to Magellan's own pipelines, but to third-party common carrier interstate systems, including the Colonial and Plantation pipelines. Industrial Info is tracking $2.2 billion worth of active projects from Magellan.

Within this article: Details on Magellan's deal with Buckeye, as well as activity related to a major terminal on the Houston Ship Channel and other expansion and addition projects.

Other companies featured: Valero Energy Corporation (NYSE:VLO)