Valero Acquires 100 Percent Ownership of Parkway Pipeline
Valero Terminaling and Distribution Company, an indirect wholly owned subsidiary of Valero Energy Corporation has purchased the remaining 50 percent membership interest in Parkway Pipeline LLC from a wholly owned subsidiary of Kinder Morgan Inc. effective June 30, 2016, bringing its total interest in the pipeline to 100 percent.
The Parkway Pipeline is a 141-mile, 16-inch products pipeline with 110,000 barrels per day of capacity, with the ability to expand to more than 200,000 barrels per day. The pipeline currently transports refined petroleum products from Valero’s 305,000 barrel per day St. Charles refinery, located in Norco, Louisiana, to Collins, Mississippi for supply into the Plantation pipeline system. Kinder Morgan owns 51 percent of Plantation Pipe Line Co. and operates the Plantation pipeline system.
In addition, Parkway Pipeline separately executed a connection agreement with Colonial Pipeline Co., where Parkway Pipeline will construct, own, and operate a new lateral segment to connect the pipeline to the Colonial pipeline system near Collins, Mississippi.
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