By November 30, 2017 0 Comments Read More →

Shell Midstream acquires stakes in Gulf corridor pipelines as part of $825 million deal

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Houston-based Shell Midstream Partners L.P. will pay Shell $825 million for stakes in pipelines that serve the Gulf of Mexico and connect Gulf Coast refineries to the Midwest and LOOP’s Louisiana storage facility to the oil trading hub in St. James.

The deal announced late Tuesday includes a 22.9 percent interest in Mars Oil Pipeline Co.  and 22 percent of Odyssey Pipeline LLC, which serve high-growth areas in the Gulf. Those stakes will result in Shell Midstream owning 71.5 percent of Mars and 71 percent of Odyssey.

Shell Midstream also acquired 10 percent of Explorer Pipeline Co. and 41.5 percent of LOCAP LLC. Explorer owns a 1,830-mile products pipeline extending from Gulf Coast refineries to the upper Midwest. LOCAP owns a 55-mile crude pipeline from the Louisiana offshore oil port’s Clovelly Salt Dome facility to the St. James trading hub…

 

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