ArcLight Capital Partners, LLC (“ArcLight”) and Freepoint Commodities LLC (“Freepoint”) announced that Limetree Bay Terminals, LLC (“LB Terminals”) has completed the purchase from HOVENSA, L.L.C. ("HOVENSA") of the idled storage terminals, refining units, and marine infrastructure located at Limetree Bay, St. Croix, U.S. Virgin Islands (collectively, the "St. Croix Facility"). ArcLight Capital Partners, LLC (“ArcLight”) is one of the leading private equity firms focused on energy infrastructure investments. The former St Croix assets include 32 million barrels of crude oil and petroleum product storage and a deep water port … August 02, 2018. Tags Energy ArcLight Capital Partners BP North America (Houston TX) From Business Journals. (“HOVENSA”) of the idled storage terminals, refining units, and marine infrastructure located at Limetree Bay, St. Croix, U.S. Virgin Islands (collectively, the “St. Once the world’s largest refinery, the Limetree Bay Refinery on St. Croix, U.S. Virgin Islands, is undergoing a $2 billion overhaul expected to finish this summer. Home; Refining & Processing; Refining; Preliminary agreement made for St. Croix refinery restart. Its former owners had shuttered the plant in 2012, and the facility was acquired by Arclight Capital Partners and Freepoint Commodities four years later. In 2016, St. Croix also had the highest number of reported cancer cases among the three islands, ... a partnership between the private equity firms EIG and Arclight Capital. Founded in 2001, ArcLight helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. FILE PHOTO: Installations of the Limetree Bay petroleum refinery are seen in St Croix, U.S. Virgin Islands June 28, 2017 when they were owned by Hovensa. ST. CROIX, U.S. Virgin Islands — Two hours after midnight in this island paradise, a cloudy vapor rose from a massive oil refinery and floated over nearby homes as quietly as a ghost. ArcLight Capital Partners, a private equity firm that owns 80 percent of Limetree Bay Terminals LLC, expects the former Hovensa plant to be able to process 200,000 barrels per day of crude and deliver fuels to market by January 2020, officials told a news conference in St. Croix. From Business Journals. ArcLight Capital Partners has, through an affiliate, an 80% interest in the facility with Freepoint Commodities holding the remaining stake. Enbridge to sell U.S. natural gas and NGL business for $1.12B. Croix Facility”). ... • $3 million for the St. Croix Capital Improvement Fund. Boston-based private equity firm ArcLight Capital, together with commodities trader Freepoint, unveiled plans on Tuesday to buy the Hovensa refinery complex in St. Croix … Tags Rob Bond ArcLight Capital Partners Energy. Enbridge closes $1B sale of Houston-based business, new owner names management team. ArcLight Capital Partners, LLC ("ArcLight") and Freepoint Commodities LLC ("Freepoint") announced that Limetree Bay Terminals, LLC ("LB Terminals") has completed the purchase from HOVENSA, L.L.C. Mapp said Arclight Capital Partners will invest almost $1.4 billion to refurbish the former refinery and begin refining crude oil again.
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