Buckeye Partners Announces Completion of Second Deepwater Dock at South Texas Gateway

HOUSTON, Dec. 30, 2020 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. (“Buckeye”) announced today that crude oil export operations have commenced at the second deepwater dock at South Texas Gateway (“STG”), a new state-of-the-art terminal constructed at the mouth of the Corpus Christi Ship Channel in Ingleside, Texas. The completion of this dock enables Buckeye to accommodate the berthing and loading of two vessels simultaneously, further facilitating the supply of North American crude oil to global markets. Buckeye also announced the loading of the first VLCC tanker to berth at the terminal, marking another significant moment for Buckeye and the Port of Corpus Christi.

“We are very excited to have achieved these important milestones at our new facility, enhancing STG’s and Buckeye’s ability to serve global energy markets,” said Buckeye Partners President and CEO, Clark C. Smith. “STG’s new terminal, alongside our nearby Buckeye Texas Partners facility, will be instrumental in providing our customers with cutting-edge logistics solutions and in reinforcing the role of the Port of Corpus Christi as a top export location for U.S. energy producers.”

“The completion of the second dock and loading of its first VLCC cargo at the STG Terminal are significant milestones for Buckeye and the Port of Corpus Christi,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi. “As Texas moves into the next phase of economic recovery from the COVID-19 pandemic, partnerships like those between the Port of Corpus Christi and its customers such as STG are critical to the continuance of American leadership in the global energy marketplace.”

STG’s marine facilities are now fully operational, with the final construction phase of storage facilities to be completed in the first quarter of 2021. STG’s world-class connectivity and terminal capabilities allow for safe and efficient loading of up to VLCC-sized vessels and utilizes state-of-the-art technologies to control air emissions.

STG is a joint venture 50 percent owned and operated by Buckeye Partners. Phillips 66 Partners LP and Marathon Petroleum Corporation, through respective subsidiaries, each have a 25 percent ownership interest. When fully operational, STG’s petroleum products storage capacity will be 8.6 million barrels, with the potential to expand to 10 million barrels and throughput capacity of up to 800,000 barrels per day at its two deepwater docks.

About Buckeye Partners

Buckeye Partners, L.P., a wholly owned investment of the IFM Global Infrastructure Fund, owns and operates a diversified global network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Buckeye is one of the largest liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline. Buckeye also uses its service expertise to operate and/or maintain third-party pipelines and terminals and perform certain engineering and construction services for its customers. Buckeye’s global terminal network comprises more than 115 liquid petroleum products terminals with aggregate tank capacity of approximately 127 million barrels across its portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast, Midwest and Gulf Coast regions of the United States as well as in the Caribbean. Buckeye’s global network of marine terminals enables it to facilitate global flows of crude oil and refined petroleum products, offering its customers connectivity between supply areas and market centers through some of the world’s most important bulk storage and blending hubs. Buckeye’s flagship marine terminal in The Bahamas, Buckeye Bahamas Hub, is one of the largest marine crude oil and refined petroleum products storage facilities in the world and provides an array of logistics and blending services for the global flow of petroleum products. Buckeye’s Gulf Coast regional hub, Buckeye Texas Partners, offers world-class marine terminalling, storage and processing capabilities. Buckeye is also a wholesale distributor of refined petroleum products in certain areas served by its pipelines and terminals. More information concerning Buckeye can be found at www.buckeye.com.

Contact:	Kevin J. Goodwin	Media Contact:	David Conti
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