February 28, 2013 [OPIS] - Arc Terminals LP and Motiva Enterprises LLC said late on Tuesday that Arc has completed its previously announced acquisition of Motiva's 60,000-bbl capacity refined products terminal in Brooklyn, N.Y.
The Arc Brooklyn terminal acts as a key supply point in the distribution of gasoline in the greater New York City metropolitan area as well as sections of Long Island and Westchester County.
The facility is supplied by pipeline and marine vessel. Motiva will remain a customer at the terminal and Arc will manage the facility as an independent third-party throughput terminal.
The current tank layout allows for Arc to increase throughput volumes through the existing customer base and enter into agreements with new third parties.
In addition, the terminal has land available that will allow Arc to evaluate opportunities to construct new tankage to expand its gasoline storage or enter into the distillates market.
Arc plans to expand the total storage capacity by 10,000 bbl within the next six months.
This is the second terminal acquired from Motiva and illustrates Arc’s execution of its long-term growth strategy to acquire key terminaling and distribution assets in the petroleum supply chain throughout the United States.
