Valero, Kaneb merge terminal, pipeline entities
Nov 4, 2004 3:43 PM
Valero LP, Kaneb Services LLC, and Kaneb Pipe Line Partners LP have executed definitive agreements to merge Valero LP and Kaneb Partners in terminal operations and petroleum liquids pipelines. The assets of the combined partnership, which will retain the Valero LP name, will include approximately 9,700 miles of pipeline comprised of approximately 6,900 miles of refined product pipelines, 800 miles of crude oil pipelines, and a 2,000-mile anhydrous ammonia pipeline. The combined partnership also will own 101 terminal facilities in 30 states, Canada, Mexico, the Netherlands Antilles, Australia, New Zealand, and the United Kingdom, as well as four crude oil storage tank facilities. The combined system will have approximately 85 million barrels of storage capacity.
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