The Targa Sound Terminal on the Hylebos Waterway in the Port of Tacoma, Washington has 758,000 barrels of capacity and handles refined petroleum products, LPGs and biofuels, including ethanol and biodiesel. The Targa Baltimore Terminal on the Patapsco River in Baltimore, Maryland has approximately 505,000 barrels of storage capacity, contains blending and heating capabilities, and has tanker truck and barge loading and unloading infrastructure. Total consideration for both transactions, which closed effective September 30, 2011, was approximately $127 million.

“We are very pleased to add these fee-based terminal businesses to our operations. We believe that their long-term, strategic value will increase as we continue to serve growing customer needs in both the Northwest and Northeast regions. Like our Channelview acquisition earlier this year, these operations complement our Downstream business. They come with active organic growth opportunities to expand capacity and capabilities and will benefit from connectivity with waterborne, rail, truck, and pipeline delivery,” said Rene Joyce, Chief Executive Officer of the Partnership’s general partner and of Targa Resources Corp. (“TRC” or the “Company”). “Our new terminals team has created solid growth and momentum so far this year with the successful acquisition of three terminal businesses. We are excited to add these quality assets to our portfolio, and we continue to seek opportunities to further expand our position in the terminaling business. Finally, we would like to welcome the great employees who operate and manage these businesses to the Targa family.”