January 27, 2012 [OPIS] - It has taken about one year, but Motiva is now actively shopping its Bridgeport, Conn., terminal and will accept bids on the facility in February, sources tell OPIS.
The facility is one of the larger terminals in the Northeast, with capacity for about 1.3 million bbl of distillate, and can be supplied by tanker and barge, with rack liftings available for transport truck.
Because the facility is a bit off the beaten path, and a small distance from New York Harbor, it may be less strategic than other properties. Motiva is still attempting to execute a sale for its Brooklyn, N.Y., terminal as well, but is further along in that sales process.
Last month, Motiva sold its 472,000-bbl terminal in Northern Virginia to Kinder Morgan. That facility is furnished by the Plantation Pipeline, which Kinder Morgan also owns.
Sources believe that the Bridgeport terminal will attract interest from “the usual suspects” including several of the nationwide and regional master limited partnerships.
