Industry sources said that Enterprise, a major LPG player in the U.S., was interested to buy those petrochemical terminals for LPG storage.
Enterprise, which owns TEPPCO crude and oil products pipeline system, could also have plans to convert the assets to store crude and oil products, but that was deemed less likely than LPG.
An Enterprise spokesman was unavailable for comment last week.
The Bigler terminals were sold for $38 million to Amegy Bank, which is expected to resell the assets.
These terminals were used mostly for petrochemicals, with some tanks for LPG storage.
Enterprise’s bid at $32 million would remain the back-up bid to the winning bid.
Intercontinental Terminals Company (ITC), a petrochemical terminal owner, was the winner of Bigler’s land assets at $20.5 million. It is likely that the land would be used for construction of new petrochemical and oil tanks.
ITC currently has a capacity of 10.7 million bbl in 215 tanks storing petrochemicals, fuel oil, bunker and distillates.
ITC outbid Vopak Terminals North America, which submitted a $7.76 million bid.