Zenith Energy, a Houston-based midstream company, has acquired three interconnected terminals in greater Los Angeles from midstream energy infrastructure operator Plains All American Pipeline.
Zenith noted that the acquisition demonstrates its commitment towards expanding its portfolio of safe and reliable energy storage assets.
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Zenith Energy president and CEO Jeff Armstrong said: “Zenith is excited to be entering the Los Angeles market with these strategic assets, which can efficiently supply California’s current energy needs with great flexibility to play a part in the future low-carbon energy landscape.”
According to the company, the terminal and pipeline infrastructure compriseS terminals in Los Angeles County, commonly referred to as the ‘Long Beach, Dominguez Hills and Alamitos Terminals’.
It also consists of about 50 miles of ‘bi–directional pipeline’ that provides ‘interconnection’ between the terminals and direct connectivity to major refineries across the region.
The terminals have about 8.2 million barrels of aggregate storage capacity.
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By GlobalDataArmstrong added: “The Los Angeles Terminals and related infrastructure are both beneficial for customers and strategically important for our business.
“We look forward to bringing to bear our core values, including safety first and environmental protection among many others, through our expanded footprint to continue to deliver high-quality service. We are also excited to welcome new employees to the Zenith family as we swiftly transition operation of the Terminals.”
In April, Zenith Energy signed an agreement with Kufpec to acquire a working interest in the North Kairouan permit and the Sidi El Kilani concession, a highly productive onshore asset in Tunisia.
Last December, the company signed an agreement to acquire Coro Energy’s natural gas production and exploration portfolio in Italy.
