Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that its European storage subsidiary, Inter Terminals Ltd., has entered into an agreement to acquire 100 percent of the issued share capital of NuStar Energy, L.P.’s European bulk liquid storage business (“NuStar Europe”) for cash consideration of USD$270 million, or approximately CAD$354 million.
Inter Terminals is taking a proactive approach to meeting demand for convenient and competitive low-sulphur fuel bunkering ahead of the IMO’s new global limit for sulphur content of ships’ fuel oil.
Drawing on his 30 years of experience in the tank storage sector and senior roles within related industry associations and industry/Regulator forums, Martyn Lyons, Chief Executive of Inter Terminals, explains why leading from the top in process safety is essential to good business performance.
The largest organic development project for a decade has been completed at Inter Terminals’ Seal Sands Terminal on England’s east coast. New tanks and pipeline links have been constructed to meet contracted demand for chemical storage at the Terminal.
Inter Terminals is strengthening its Leadership Team to support the continuing growth and development of its business – now ranked as one of the largest independent bulk liquid storage providers in northern Europe, and the largest in Scandinavia.
The largest organic development project for a decade is nearing completion at Inter Terminals’ Seal Sands Terminal on England’s east coast. New tanks and pipeline links have been constructed to meet contracted demand for chemical storage at the Terminal.
Operating the only independent bulk liquid storage facility on the River Tyne, Inter Terminals stores and handles a wide range of products received and redelivered by road and sea at its Tyne Terminal.
Inter Terminals is at the forefront of produced water storage and handling in the UK with its high quality facilities on England’s East Coast.
Inter Terminals is optimising capacity utilisation across its European storage network to meet increased activity levels.