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SemGroup buys Williams' wholesale propane assets

By OGJ editors
HOUSTON, Dec. 30 -- The privately owned SemGroup LP has purchased Williams Cos.' wholesale propane assets and marketing business. Both companies are based in Tulsa.

The purchase includes seven propane terminals, software and hardware support, and long-term supply contracts providing propane deliveries to 46 states.

The propane terminals included in the sale have an annual throughput capacity in excess of 210 million gal. They are in Arkansas, Wisconsin, Minnesota, and Washington.

"Wholesale propane fits well with our company's existing crude oil and gas arbitrage marketing culture. Equally important, it continues our strategy of acquiring transportation and distribution assets that expand our ability to deliver gas, fuel, and crude oil supply to our end-user customers," said SemGroup Pres. and CEO Tom Kivisto.

SemGroup, formerly called the Seminole Group, will operate its new subsidiary under the name SemStream LP.

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