Close this search box.

Terminal News

Gibson Energy expands liquids infrastructure with acquisition

Written by...

Picture of Molly Cooper

Molly Cooper

Journalist at Tank Storage Magazine.
Gibson Energy acquire South Texas Gateway Terminal

Canadian-based liquids infrastructure company, Gibson Energy has announced it has entered into an agreement to acquire 100% of the membership interests of South Texas Gateway Terminal, USA for a total purchase price of $1.1 billion (€1 billion).

Through the transaction, Gibson will acquire the South Texas Gateway Terminal liquids terminal and export facilities globally with direct pipeline connections to low-cost, long reserve-life resource supply, and very large crude carrier (VLCC) capabilities.

Read more: Gibson Energy announces sanction of two new tanks

Steve Spaulding, president and CEO says: ‘Since establishing Gibson as a leading liquids-focused infrastructure company, we have been looking for an opportunity that is a strategic fit, while enhancing our scale and diversity…I am excited to add the world-class South Texas Gateway Terminal to our infrastructure portfolio. This transaction amplifies our high-quality infrastructure revenues and bolsters the continued growth of our distributable cash flow per share.’

Share this article:

Latest terminal news