Shell to Sell Houston Ship Channel Pipeline and Terminal to Edgewater Midstream
(P&GJ) — Shell Pipeline Company LP and Triton West LLC, subsidiaries of Shell USA, Inc., have agreed to sell their 100% interest in the Sinco pipeline system and Colex terminal to Edgewater Midstream LLC. The transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2024.
The assets, located in the Houston Ship Channel, were previously integrated with the Deer Park Refinery, which Shell sold to Pemex in 2022. Since then, the Sinco pipeline and Colex terminal have been considered non-strategic for Shell.
"This sale follows our guidance at Shell's Capital Markets Day to continue to simplify our portfolio as we seek to deliver more value, with less emissions," said Andrew Smith, Shell executive vice president trading & supply. "After the completion of the sale of Shell's equity in Deer Park Refinery, these assets are non-integrated and no longer fit within Shell's Powering Progress strategy. This transaction enables re-deployment of capital to other projects that will do so."
The Sinco pipeline system and Colex terminal are key logistics assets that have played a critical role in moving oil products in the Houston area. Edgewater Midstream, which specializes in pipeline and terminal operations near North American petroleum trading hubs, will take over the assets to expand its network.
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments