TransMontaigne Partners Adds Pacific Northwest Assets
12.06.2021 - NEWS

December 6, 2021 [BulkTransporter] – TransMontaigne Partners recently completed the acquisition of SeaPort Financing, a portfolio company of ArcLight Energy Partners Fund VI.

 

SeaPort is a critical infrastructure company with significant operations across the renewable fuels supply chain in the U.S. Pacific Northwest, TransMontaigne said.

As a result of the transaction, TransMontaigne acquired a 100% membership interest in SeaPort Sound Terminal, which owns a liquid products terminal in Tacoma, Wash., a 51% membership interest in SeaPort Midstream Partners, which owns liquid products terminals in both Seattle and Portland, and a 30% membership interest in Olympic Pipeline Company, which owns the Olympic Pipeline between Blaine, Wash., and Portland.

“TransMontaigne is delighted to complete the acquisition of SeaPort,” said Fred Boutin, CEO of TransMontaigne. “This transaction enables us to expand our geographic reach to the U.S. Pacific Northwest through critical and highly contracted infrastructure assets, while also accelerating TransMontaigne’s progression as a leader in the growing renewable fuels logistics space.

“This group of high-quality assets positions TransMontaigne as the only independent terminal operator with operations in every major market within the Pacific Northwest. Notably, the SeaPort Sound Terminal in Tacoma, Wash., owns the only independent end-market unit train facility in the Puget Sound and has a critical role in the growing renewables supply needs of the region.”

Added George Yong, managing director of ArcLight: “ArcLight has created a unique renewable fuels infrastructure platform in SeaPort. We strongly believe that TransMontaigne is ideally positioned to lead SeaPort into its next phase of growth and success. This transaction is yet another example of ArcLight’s ability to play a critical role in the infrastructure ecosystem in the face of the rapidly evolving energy transition.”

Click Here to Access a 7,000 Tank Terminal Database With a Pro Trial

7,000 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

List of Tank Storage Facilities in TankTerminals.com – Week 27 (2022)
07.07.2022 - NEWS
CITGO, Chevron, Shell, ECO, NASA, Cushing, Vopak, Exolum, Scottish Fuels, Repsol, Polarbase, BP, ... Read More
U.S. Oil Refinery Utilization At Near-Peak Levels
07.04.2022 - NEWS
July 4, 2022 [Seeking Alpha] – As of May 2022, refining capacity stands at 17.9 million bar... Read More
INEOS Starts Up LV PAO Plant
07.04.2022 - NEWS
July 4, 2022 [HydrocarbonEngineering] – INEOS Oligomers has announced that it has started u... Read More
Exxon, Shell, CNOOC To Develop CCS Project In China
07.04.2022 - NEWS
July 4, 2022 [RIGZONE] – ExxonMobil, Shell, CNOOC, and the Guangdong Provincial Development... Read More