March 4, 2014 [OPIS] - NuStar Energy LP said on Monday that it has signed long-term agreements for light crude oil storage at its St. Eustatius terminal in the Caribbean and its Pt. Tupper terminal in Nova Scotia.
In St. Eustatius, NuStar signed an agreement with a national oil company to lease 5 million bbl of light crude oil storage. The agreement took effect March 1, 2014 and the first shipment is expected to arrive this week.
In Pt. Tupper, the company re-signed a major U.S. oil company that will be leasing 3 million barrels of light crude oil storage. This new agreement will go into effect on Aug. 1, a day after the previous contract expires.
NuStar Energy LP, a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has 8,643 miles of pipeline and 87 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids.
The partnership’s combined system has approximately 94 million bbl of storage capacity, and NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey.
