NuStar Energy LP and Pemex affiliate PMI signed a letter of intent for a proposed joint venture (JV) in which the companies will develop new pipeline infrastructure to transport LPG and refined products from the U.S. into northern Mexico, the companies announced in a statement.
Under the JV, the companies will jointly fund construction of new pipeline and storage assets, which NuStar would manage. LPG and refined products will be delivered from Mont Belvieu and Corpus Christi, Texas, to Nuevo Laredo and Burgos-Reynosa, Mexico.
The new infrastructure and terminal facilities will be integrated with NuStar’s existing infrastructure. The project will be supported by a throughput commitment from PMI. The projects are currently expected to be completed and placed into service in the second half of 2016.
Recommended Reading
Apollo to Buy, Take Private U.S. Silica in $1.85B Deal
2024-04-26 - Apollo will purchase U.S. Silica Holdings at a time when service companies are responding to rampant E&P consolidation by conducting their own M&A.
Deep Well Services, CNX Launch JV AutoSep Technologies
2024-04-25 - AutoSep Technologies, a joint venture between Deep Well Services and CNX Resources, will provide automated conventional flowback operations to the oil and gas industry.
EQT Sees Clear Path to $5B in Potential Divestments
2024-04-24 - EQT Corp. executives said that an April deal with Equinor has been a catalyst for talks with potential buyers as the company looks to shed debt for its Equitrans Midstream acquisition.
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.
Making Bank: Top 10 Oil and Gas Dealmakers in North America
2024-02-29 - MergerLinks ranks the key dealmakers behind the U.S. biggest M&A transactions of 2023.