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NGL Energy Partners Strengthens its Propane Asset Portfolio in the North-East
04/03/2019
DCP earlier announced it would sell its Gas Supply Resources (GSR) - Wholesale Propane Business - to NGL Energy Partners LP.
According to a purchase and sale agreement DCP conveys to NGL its wholesale propane business.
In general, the latter consisted of seven natural gas liquids terminals in the Eastern United States.
Under the terms of the agreement, NGL has acquired 100% ownership of five propane rail terminals operated by Gas Supply Resources, a subsidiary of DCP, and 50% ownership interest in a sixth propane rail terminal.
The agreement also includes an import/export terminal located in Chesapeake, Virginia, with the capability to load or unload ships from Handy-sized vessels up to Very Large Gas Carriers.