NuStar Energy LP has acquired full ownership of a refined products terminal in Linden, NJ, which is located in the New York Harbor.
The terminal was previously operated as a joint venture with Linden Holding Corp, and NuStar had 50 percent ownership of the facility. NuStar purchased the remaining ownership interest from Linden Holding Corp, a subsidiary of NIC Holding Corp, for $142.5 million, and the acquisition is projected to contribute approximately $20 million of incremental earnings before EBITDA in 2015.
The Linden terminal has 4.3 million barrels of refined products storage capacity, primarily storing gasoline, jet fuel and fuel oils. It has a deepwater ship dock and one barge dock that are used for inbound and outbound shipments. The terminal also has inbound pipeline connections to the Colonial and Sun pipelines, and an outbound connection to the Buckeye Pipeline. The NuTop terminal has 389,000 barrels of refined product storage capacity and receives shipments via truck and pipeline, and delivers product via its eight-bay truck loading rack.