Darius Sweet has been appointed as chief executive officer of Limetree Bay Terminals LLC, the joint venture of ArcLight Capital Partners LLC and Freepoint Commodities LLC that recently purchased idled storage terminals, refining units, and marine infrastructure at former Hovensa LLC’s idled refinery at Limetree Bay, on the island of St. Croix (OGJ Online, Jan. 8, 2016).
Sweet previously served as executive vice-president and president of refining and supply at Axeon Specialty Products LLC, where he oversaw all of Axeon’s refining, supply, trading, and transportation functions.
Before that, Sweet spent 25 years at Hess Corp., where he was served as senior vice-president of refining, terminals, and supply.
Sweet joins a LB Terminals’ newly formed leadership team, which includes former Hess and Hovensa colleague Sloan Schoyer as vice-president of operations, and Keith Neal, from Buckeye Partners LP, as vice-president of commercial.
The LB Terminals team is working to revive existing storage capacity and construct new terminal infrastructure, as well as pursuing the restart of certain portions of the idled refinery operation, said Sweet.
The company said it expects to bring the first of the St. Croix complex’s tanks back into service as early as April.
LB Terminals’ assets at the St. Croix complex include:
• About 32 million bbl of crude oil and petroleum product storage.
• Idled refinery units with total peak processing capacity of 650,000 b/d.
• A deepwater port with 10 petroleum docks, one bulk product dock, six tug boats, and various associated equipment and inventory.
LB Terminals already has executed a 10-year lease agreement with China Petroleum & Chemical Corp. (Sinopec) for 10 million bbl of storage capacity, as well as binding lease agreements with Freepoint for an additional 3 million bbl of storage capacity, the company said.
Contact Robert Brelsford at [email protected].
