NuStar Energy LP announced a long-term lease agreement with Shell Oil Products US for storage at NuStar’s Houston TX Asphalt terminal. NuStar also announced a five-year agreement with HollyFrontier Refining & Marketing, LLC to lease its Rosario NM and Catoosa OK asphalt terminals.
NuStar completed the divestiture of its asphalt joint venture operations in February, but maintained ownership of these three terminals as part of the transaction.
“We are excited to have forged long-term agreements with these asphalt providers at three of our asphalt terminals,” said Brad Barron, president and chief executive officer of NuStar Energy. “We are glad that we were able to retain these terminals after the divestiture of our asphalt joint venture, and we are pleased to get these facilities leased up so quickly."
NuStar’s agreement for the Houston asphalt terminal took effect on May 1, 2014. NuStar’s Houston Asphalt terminal consists of 85,000 barrels of heated asphalt storage, the Houston Ship Channel barge dock, an automatic two-bay truck loading rack, two-bay truck offloading racks and a state-of-the-art Polymer-Modified Asphalt (PMA) mill.
NuStar’s agreement with HollyFrontier in Catoosa, which took effect on April 1, 2014, enables HollyFrontier to supply PMA and Performance Graded (PG) asphalts to the mid-continent market. NuStar’s Catoosa terminal consists of 340,000 barrels of heated asphalt storage, a barge dock, a four-bay truck loading/unloading rack, rail capabilities, a certified lab and a state-of-the-art PMA mill.
NuStar’s agreement with HollyFrontier for the Rosario asphalt terminal will commence on July 1, 2014. The Rosario terminal consists of 160,000 barrels of heated asphalt storage, a two-bay automatic 24/7 truck loading rack, rail capabilities, warehouse storage and a state-of-the-art PMA mill.