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ArcLight Capital and BP Expand West Coast Midstream Collaboration

ArcLight Capital and BP Expand West Coast Midstream Collaboration

PR Newswire

BOSTON, Sept. 14, 2017 /PRNewswire/ — ArcLight Capital Partners announced today that one of its affiliates has acquired a 30% interest in the entity that owns the Olympic Pipeline from ARCO Midcon LLC, an affiliate of BP Pipelines (North America) Inc. The Olympic Pipeline is a regulated interstate refined products pipeline system that spans approximately 400 miles across the states of Washington and Oregon. BP Pipelines (North America) Inc. will continue to operate the pipeline under a multi-year operating agreement. This transaction follows an earlier agreement between ArcLight and BP to enter into a joint venture across two large-scale refined product terminals that are interconnected to the Olympic Pipeline.

In connection with the transaction, ArcLight has granted TransMontaigne Partners LP (NYSE: TLP), also an ArcLight affiliate, a right of first offer to purchase ArcLight’s interest in the entity that owns the Olympic Pipeline.

ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, the firm helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested approximately $19 billion in over 100 transactions since inception. Based in Boston, the firm’s investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists as well as the firm’s 750-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight’s portfolio companies, can be found at www.arclightcapital.com.

View original content:http://www.prnewswire.com/news-releases/arclight-capital-and-bp-expand-west-coast-midstream-collaboration-300519989.html

SOURCE ArcLight Capital Partners

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