Trafigura, Haddington acquire major U.S. oil products storage site

NGL Energy Partners LP

12/07/2021 13:38

LONDON, July 12 (Reuters) - 
    * Global commodities trader Trafigura and private equity
fund
Haddington Ventures have bought a 71.5% stake in Sawtooth
Caverns for $70 million from NGL Energy Partners.
    * Sawtooth is the largest natural gas liquids (NGLs) storage
site
in the western United States with 7 million barrels of capacity
in its deep-well salt caverns for NGLs and refined products. 
    * The location will give Trafigura access to the western
United
States, Canada and Mexico.
    * "As the Western United States does not have comprehensive
pipeline infrastructure, Sawtooth Caverns' strategic location
... will enable Trafigura to expand ... in a very dynamic region
of North America, where we have a growing presence," Robert
Kreider, director for Trafigura Trading LLC, said.


 (Reporting by Julia Payne; editing by David Evans)
 ((julia.payne@thomsonreuters.com; +44 207 542 1836;))