SemLogistics Milford Haven fuel storage facility on the west coast of Wales in the U.K. is set to be acquired by Valero Logistics UK.
Situated across the Haven from Valero’s refinery at Pembroke, the facility is one of the largest petroleum products storage facility in the U.K. with 8.5 million barrels of capacity for storing gasoline, gasoline blendstocks, naphtha, jet fuel, gas oil, diesel, and crude oil.
More than 67% of the storage capacity is multiproduct or dual purpose, giving Valero the flexibility to meet customers’ demands in the U.K. and throughout Northwest Europe. Additionally, Milford Haven will continue to operate as a third-party storage facility, offering storage options for third-party customers across the European petroleum markets.
Valero Chairman, President and Chief Executive Officer, Joe Gorder said: “This facility complements our Pembroke refinery and fuel terminals in the UK and Ireland, making it a natural fit for the company. This purchase demonstrates Valero’s commitment to Wales and the UK, and it aligns with our strategy to grow the logistics business and reduce secondary costs.”
Subject to customary regulatory approvals, Valero expects the purchase be completed in the third quarter of 2018. Valero also expects to retain the U.K. employees currently engaged in the business to be acquired.
For more information visit www.valero.com
27th Feb 2018