MPLX Buys Lower Mississippi Export Terminal
MPLX LP has purchased a Louisiana export terminal from Pin Oak Holdings, LLC for approximately $450 million, the Marathon Petroleum Corp. master limited partnership reported Wednesday. MPLX will rename the facility, located along the Mississippi River between Baton Rouge and New Orleans, the Mt. Airy Terminal.
“This acquisition provides an excellent platform for MPLX, as production growth and refining output increase the requirement for additional export capacity,” MPLX President Michael J. Hennigan said of the facility, which boasts 4 million barrels of third-party leased storage capacity and a 120,000-barrel-per-day (bpd) dock.
In a written statement, MPLX pointed out that Mt. Airy enjoys access to Marathon Petroleum’s Garyville refinery as well as eight other Lower Mississippi refineries. In addition, the company stated that the terminal can handle multiple refined products as well as residual fuel and bunker products.
Besides Marathon Petroleum’s 556,000-bpd Garyville facility, other refineries along the Lower Mississippi include:
- PBF Energy’s 189,000-bpd Chalmette Refinery
- ExxonMobil Corp.’s 502,500-bpd Baton Rouge Refinery
- Shell’s 240,000-bpd Convent and 250,000-bpd Norco refineries
- Phillips 66’s 275,000-bpd Alliance refinery in Belle Chasse
- Placid Refining Co.’s 75,000-bpd refinery in Port Allen
- Valero Refining Co.’s 135,000-bpd Meraux and 340,000-bpd St. Charles refineries
“With a prime location on the Mississippi River and proximity to over 2 million barrels per day of refining capacity, this terminal will serve as a platform to meet growing export needs, expand our third-party business and give MPLX tremendous flexibility to help its customers meet upcoming International Maritime Organization fuel standards,” said Hennigan.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Venezuela Sanctions Likely to Hit Some US Refiners (Jan 24)
- Alaska Earthquake Threatens Oil Exports (Nov 30)
- MPLX Buys Lower Mississippi Export Terminal (Sep 27)