Valero to Purchase SemLogistics Milford Haven Fuel Storage Facility
February 23 2018 - 4:15PM
Valero Logistics UK Ltd, a subsidiary of Valero Energy Corporation
(NYSE:VLO), and SemGroup Europe Holding L.L.C., a SemGroup
Corporation company, have today signed an agreement for the
purchase of SemLogistics Milford Haven fuel storage facility on the
west coast of Wales.
Situated across the Haven from Valero’s refinery
at Pembroke, the facility is one of the largest petroleum products
storage facility in the United Kingdom (UK) with 8.5 million
barrels of capacity for storing gasoline, gasoline blendstocks,
naphtha, jet fuel, gas oil, diesel, and crude oil. Over 67
percent of the storage capacity is multiproduct or dual purpose,
giving Valero the flexibility to meet customers’ demands in the UK
and throughout Northwest Europe. Additionally, Milford Haven
will continue to operate as a third-party storage facility,
offering storage options for third-party customers across the
European petroleum markets.
“This facility complements our Pembroke refinery
and fuel terminals in the UK and Ireland, making it a natural fit
for the company,” said Joe Gorder, Valero Chairman, President and
Chief Executive Officer. “This purchase demonstrates Valero’s
commitment to Wales and the UK, and it aligns with our strategy to
grow the logistics business and reduce secondary costs,” added
Gorder.
Subject to customary regulatory approvals,
Valero expects the purchase be completed in the third quarter of
2018. Valero also expects to retain the UK employees currently
engaged in the business to be acquired.
About ValeroValero Logistics UK
Ltd, a subsidiary of Valero Energy Corporation, operates terminals
and pipelines in the UK. Valero Energy Ltd, its affiliate,
markets fuel in the UK and Ireland under the Texaco brand, of which
approximately 850 of the branded service stations are located in
the UK and 230 in Ireland. Valero Energy Ltd also owns and
operates Pembroke Refinery in southwest Wales, which is one of
Europe’s largest and most complex refineries. The company has
ownership interests in four major pipelines, seven fuel terminals,
and a 14,000 barrels per day aviation fuels business.
Valero Energy Corporation, through its
subsidiaries, is an international manufacturer and marketer of
transportation fuels and other petrochemical products.
Valero, a Fortune 50 company based in San Antonio,
Texas, with approximately 10,000 employees, is an independent
petroleum refiner and ethanol producer, and its assets include
15 petroleum refineries with a combined throughput capacity of
approximately 3.1 million barrels per day and 11 ethanol
plants with a combined production capacity of 1.45 billion gallons
per year. The petroleum refineries are located in the United
States (US), Canada and the UK, and the ethanol plants are located
in the Mid-Continent region of the US. In addition, Valero
owns the 2 percent general partner interest and a majority
limited partner interest in Valero Energy Partners LP, a midstream
master limited partnership. Valero sells its products in both
the wholesale rack and bulk markets, and approximately
7,400 outlets carry Valero’s brand names in the US, Canada,
the UK and Ireland. Please visit www.valero.com for more
information.
Valero ContactsInvestors:John
Locke, Vice President – Investor Relations, 210-345-3077Karen Ngo,
Senior Manager – Investor Relations, 210-345-4574
Media:Lillian Riojas, Director – Media Relations
and Communications, 210-345-5002
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