August 8, 2022 [Tank Storage Mag] – US oil and gas company United Energy (UNRG) has bought Integrity Terminals, which is planning a greenfield bulk liquid storage, import and export facility in Louisiana, US.

UNRG previously held a 12% minority stake in Integrity Terminals. One complete, the facility will store, blend, and distribute petroleum products, crude oil, biofuel, green energy, and non-petroleum compounds. The site is strategically located on the Mississippi River in Louisiana’s Gulf Coast area, which connects US oil and gas suppliers with domestic and international markets.

UNRG says that the terminal will reduce dependence on oil sources from overseas and will employ eco-friendly, Leadership in Energy and Environmental Design (LEED) certified building practices. The terminal will also use carbon capture and vapour recovery technologies and aims to be carbon neutral.

As part of the deal, UNRG has also acquired an option to buy 686 acres (278 hectares) of land in Iberville, Louisiana, subject to due diligence and permitting approvals.

‘As a wholly owned subsidiary of UNRG, full ownership and operational control enables UNRG to implement aggressive plans for the project’s completion while increasing shareholder value. Profitability. Responsibility. Sustainability. These are the hallmarks of our corporate mission,’ says Brian Guinn, UNRG CEO.

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