MPLX, the sponsored master limited partner of Marathon Petroleum, is buying a Louisiana export and storage terminal, S&P Global reports, increasing its capacity to export gasoline and diesel from the Gulf Coast.
Located on the Mississippi River between Baton Rouge and New Orleans, the facility—which will be known as MPLX’s Mt. Airy Terminal—is near nine lower-Mississippi refineries, including Petroleum’s Garyville refinery. The terminal is also located near Marathon’s Louisiana asphalt terminal.
“This growth potential is significant, as multiple pipelines and rail lines cross the property, and the terminal is positioned as an aggregation point for liquids growth in the region for both ocean-going vessels and inland barges,” MPLX said in a prepared statement.
The $450 million facility currently has 4 million barrels of leased storage capacity and a 120,000 barrels-per-day dock. Space exists to expand storage to 10 million barrels and add a second dock.
Marathon recently merged with fellow refiner, Andeavor, to become the largest U.S. refining company.
