NEW YORK, June 15, 2023: Morgan Lewis is advising Buckeye Partners, L.P. and South Texas Gateway Terminal (STGT) in the sale of 100% of STGT to Gibson Energy Inc. for a total purchase price of $1.1 billion in cash, subject to closing adjustments.
STGT is a high-quality export facility providing crude oil to global markets operating out of a deep-water marine terminal in Ingleside, Texas. Buckeye Partners is a wholly owned investment of the IFM Global Infrastructure Fund, which owns and operates a diversified global network of integrated assets providing midstream logistic solutions.
Partners Benjamin Wills and Conor Larkin and associate Erin O’Gurek are representing Buckeye Partners and STGT.