Zenith Energy recently completed the acquisition of three interconnected West Coast terminals in greater Los Angeles from Plains All American Pipeline LP.
Based in Houston, Zenith is a midstream company that owns and operates over 32 million barrels of renewable fuels, crude oil, petroleum products, chemicals and vegetable oil storage across North American, Europe and Latin America.
The acquisition of the three interconnected terminals for undisclosed terms marks Zenith’s entry into the Los Angeles market, according to company’s president and CEO, Jeff Armstrong.
“Zenith is excited to be entering the Los Angeles market with these strategic assets, which can efficiently supply California’s current energy needs with great flexibility to play a part in the future low-carbon energy landscape,” Armstrong said in a statement on Oct. 16.
The terminal and pipeline infrastructure comprise terminals in Los Angeles County, commonly referred to as the Long Beach, Dominguez Hills and Alamitos Terminals, in addition to approximately 50 miles of bi–directional pipeline providing interconnection between the terminals as well as direct connectivity to all major refineries in the region.
The terminals have an aggregate storage capacity of 8.2 million barrels and are connected to deepwater docks and Line 2000, Line 63 and the M70 pipeline systems from Northern California as well as the refining and biorefining systems in southern California.
Vinson & Elkins LLP advised Plains All American in the sale of the terminals to Zenith Energy. The firm’s corporate team was led by partner Doug Bland and counsel Matt Falcone.
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