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Buckeye takes over in Perth Amboy
Originally published:  27/07/2012
Buckeye Partners has completed the acquisition of Chevron’s Perth Amboy terminal in New Jersey for $260m in cash. The facility has more than 4m bbl of storage capacity with room for expansion, as well as four docks on the Arthur Kill and pipeline, rail and truck access. Buckeye’s total liquid petroleum storage capacity now stands at more than 68m bbl. Buckeye has a number of plans for the site, including linking it by a new 16-inch pipeline to its existing Linden terminal, some six miles away.
“We are excited to bring this strategic facility into Buckeye’s portfolio of assets," says Clark C Smith, Buckeye's president/CEO. "We expect its integration into our network to proceed quickly and smoothly, and we intend to initiate our planned commercialization activities immediately. The Perth Amboy terminal should provide Buckeye with security and diversity of product supply by directly linking our domestic pipeline and terminal network to an owned and operated marine facility through a new 16-inch pipeline to be built to our Linden complex. This will provide Buckeye with direct access to international and U.S. Gulf Coast petroleum products imports. The facility also can serve as a link between our domestic assets and our BORCO facility in The Bahamas."