You are currently viewing: News



10-06-2019

Martin Midstream Partners announces sale of natural gas storage assets

Martin Midstream Partners L.P. announced today that it has entered into a definitive agreement with Hartree Cardinal Gas, LLC, a subsidiary of Hartree Bulk Storage LLC, to sell its membership interests in Arcadia Gas Storage, LLC, Cadeville Gas Storage LLC, Monroe Gas Storage, LLC and Perryville Gas Storage LLC for $215.0 million in cash.

Ruben Martin, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership said, “Our agreement to sell the Natural Gas Storage Assets is an important piece of the Partnership’s strategy to strengthen the balance sheet and re-focus our operational expertise on the refinery services industry.”

The Natural Gas Storage Assets consist of approximately 50 billion cubic feet of working capacity located in northern Louisiana and Mississippi.  The transaction is expected to close on or around the end of the second quarter, subject to customary closing conditions.

“We are excited about the opportunity for Hartree Bulk Storage to acquire the Natural Gas Storage Assets and operate them as independent facilities,” said Steve Semlitz, co-founder of Hartree Partners L.P., “the Natural Gas Storage Assets are high-performing facilities strategically located in the Gulf Coast. Hartree Bulk Storage plans on further optimizing these facilities and their capabilities in the near-term, to better serve customers in the ever-growing Gulf Coast region.”
Sponsor : 

Other News Items

Mammoet design input delivers maximum efficiency

As one of the largest crude oil processing locations in Germany, every hour of downtime at PCK Raffinerie GmbH’s (PCK) Schwedt refinery has a significant impact. ...

20-08-2019

Successful startup of world’s largest dehydrogenation plant using CATOFIN®

Clariant announced the successful startup of its CATOFIN catalyst at Hengli Group’s new mixed-feed dehydrogenation plant in Dalian, China. The new unit combines ...

15-08-2019

Emerson expands asset management coverage

Emerson has expanded AMS Device Manager with HART-IP™ support, making it easier to connect with devices and control systems and potentially eliminate hundreds of ...

15-08-2019

Greene Tweed highlights Innovative ArlonÒ 3000 XT polymer for oil and gas

Greene Tweed, a leading global manufacturer of high-performance seals, thermoplastics, composites, and engineered components, announces the availability of its innovative ...

15-08-2019

Orbital Gas Systems wins VE technology sample system contract

CUI Global Inc, wholly-owned Energy subsidiary, Orbital Gas Systems, announced that it has received an order to supply and commission a VE Technology Sample System, including ...

13-08-2019

Saudi Aramco invests in Reliance Industries oil to chemicals division

Saudi Aramco and Reliance Industries Limited (RIL) today have agreed to a non-binding Letter of Intent (“LOI”) regarding a proposed investment in the Oil ...

12-08-2019

KTA butadiene plant built by Wison Engineering starts up successfully

On August 11, Nanjing Chengzhi Yongqing Energy Technology Co., Ltd.'s new 100 KTA butene-to-butadiene plant, built by Wison Engineering (SEHK stock code: 2236), started ...

12-08-2019

CIRCOR International features R.G. Laurence on/off valves for hazardous conditions

CIRCOR International, a worldwide manufacturer of valves for the power generation, industrial, marine and oil and gas markets for over a century, features high-quality ...

12-08-2019

KBR acquires isomerization technologies to expand octane solutions offerings

KBR announced today that it has acquired isomerization technologies from RRT Global that will enable KBR to offer expanded octane and clean fuel technology solutions ...

08-08-2019

Clariant Catalysts expands in the Middle East with new office in Saudi Arabia

Clariant announced today that the company’s Catalysts business inaugurated a new services and support office in Jubail, Kingdom of Saudi Arabia. Located in the ...

07-08-2019