October 24, 2011 [OPIS] – Vecenergy, which acquired two Chevron pipeline terminals earlier in 2011 in Alabama and Georgia, has just acquired another terminal from the major.
Vecenergy is now the operator of a 150,000-bbl capacity products terminal in Albuquerque, N.M.
The company acknowledges that the purchase puts it in a new geographic market, and executives hint that they are looking at further acquisitions or other expansion opportunities in the region.
“We are very excited to be expanding into new markets. We are very optimistic about the potential this terminal offers,” said Todd Cannon, chief operating officer for Vecenergy. “We look forward to future expansion opportunities while we continue to focus on providing exceptional service to all our customers.”
Vecenergy also designs, builds, finances and operates new terminals. It owns and operates a major facility at Port Everglades in Florida that was planned and built from the ground up in record time.
Its terminals now have a combined capacity of more than 2.1 million barrels.
