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Tivoli Midstream has acquired terminal and storage facilities from affiliates of Ascend Performance Materials on the Chocolate Bayou, one of the channels for energy traffic near Houston, the company said on April 29.
“With our acquisition of the Chocolate Bayou Assets, we are excited to create a leading Gulf Coast infrastructure hub,” Rance Fromme, president of Houston-based Tivoli, said in a press release.
Financial terms of the acquisition were not disclosed.
The facilities at Chocolate Bayou include 3 MMbbl of storage capacity in more than 100 storage tanks. The site has access to the train, truck and barge traffic, as well as a pipeline system between Freeport and Texas City.
The facility will be able to store and transmit renewables, refined products, chemicals, LPGs and other products.
Under the terms of the deal, Tivoli entered a long-term partnership with Ascend. About 2.5 MMbbl of storage will be available for third-party customers. Tivoli is backed by Intrepid Investment Management.
Tivoli’s last major acquisition was announced in August 2023, after the company acquired the Northern Texas (NTX) crude gathering pipeline system in the Barnett Shale from Phillips 66.
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