Buckeye Completes Sale of Pipelines and Terminals

January 3, 2019

 

Buckeye Partners LP has completed its sale of domestic pipeline and terminal facilities.

The Houston company said the $450 million sale was made to a subsidiary of InstarAGF Asset Management Inc., including a jet fuel pipeline serving the Ft. Lauderdale and Miami airports in Florida.

Pipelines serving the Reno, Nevada and San Diego, California airports as well as the Memphis, Tennessee airport were also included, as were refined petroleum products terminals.

Buckeye said the sale proceeds will go to pay down debt.