SemGroup, L.P.

January 18, 2006 06:00 ET

SemGroup Expanding Scope to UK; Signs Agreement to Purchase Storage Terminal from Petroplus

TULSA, Okla.--(CCNMatthews - Jan 18, 2006) -

SemGroup, L.P. announced today that it signed a definitive purchase and sale agreement to acquire Petroplus Tankstorage Milford Haven Limited, owner of the largest storage and terminal facility in the United Kingdom. The seller is Petroplus International B.V. Located in Milford Haven, Wales, on the West Coast of the United Kingdom, the terminal will be the first asset owned by SemGroup outside North America. The Milford Haven terminal has in excess of 9.4 million barrels of storage capacity and more than 80 tanks. The terminal stores crude oil, gasoline blendstocks and jet fuel. SemGroup expects the acquisition to close on January 31, 2006.

Tom Kivisto, SemGroup president and chief executive officer, described the acquisition's strategic value to SemGroup. "The terminal is close to key UK refineries and is utilized as intermediate storage for supplies produced from them. Historically, much of the crude oil and gasoline stored there is shipped to the U.S. east coast. With U.S. demand continuing to grow, Milford Haven will need to be expanded," Kivisto said.

In addition to being the largest independent terminal and storage facility in the United Kingdom, the Milford Haven site has road and rail facilities as well as two marine berths capable of handling ships up to one million barrels cargo capacity. The terminal's storage tanks range in size from 50,000 barrels to 650,000 barrels shell capacity.

SemGroup is funding the acquisition by a combination of borrowings under its existing credit facility and the company's cash on hand.

SemGroup, L.P. is a midstream service company providing the energy industry means to move products from the wellhead to the wholesale marketplace. It is ranked No. 9 on Forbes magazine's list of America's Largest Private Companies. For additional information, visit www.semgrouplp.com.

Petroplus International B.V. was established in 1993 and has since developed into a leading player in the European midstream market. Petroplus is the owner of refineries in Antwerp (Belgium), Cressier (Switzerland) and Teesside (United Kingdom) with a total capacity of 240,000 barrels per day. Petroplus, with its head office in Rotterdam and a regional head office in Zug, has branch offices in more than 20 countries and employs more than 900 people. Visit Petroplus' Web site at www.petroplusinternational.com.

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Contact Information

  • SemGroup, L.P.
    Frank Panzer, 918-524-8109
    Cell: 918-406-1848
    or
    Petroplus International B.V.
    Ester Trieling, +31-10-212-5005