Valero Acquires 100% Ownership of Parkway Pipeline
Valero Terminaling and Distribution Company, an indirect wholly owned subsidiary of Valero Energy Corp. (“Valero”), purchased the remaining 50% membership interest in Parkway Pipeline LLC (“Parkway Pipeline”) from a wholly owned subsidiary of Kinder Morgan Inc. effective June 30, 2016, bringing its total interest in the pipeline to 100%.
Parkway Pipeline is a 141-mile, 16-inch products pipeline with 110 Mbpd of capacity, with the ability to expand to more than 200 Mbpd. The pipeline currently transports refined petroleum products from Valero’s 305 Mbpd St. Charles refinery, located in Norco, Louisiana, to Collins, Mississippi for supply into the Plantation pipeline system. Kinder Morgan owns 51% of Plantation Pipe Line Co. and operates the Plantation pipeline system.
In addition, Parkway Pipeline separately executed a connection agreement with Colonial Pipeline Co. pursuant to which Parkway Pipeline will construct, own, and operate a new lateral segment to connect the pipeline to the Colonial pipeline system near Collins, Mississippi.
Comments