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

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

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


Attachment: Magellan Terminal Map 0621

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)

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