Plains to acquire LPG storage

Feb. 23, 2007
A Plains All American Pipeline LP subsidiary plans to buy AmeriGas Propane LP's Bumstead LPG storage near Phoenix, Ariz., for $52 million.

By OGJ editors
HOUSTON, Feb. 23 -- A Plains All American Pipeline LP subsidiary plans to buy AmeriGas Propane LP's Bumstead LPG storage near Phoenix, Ariz., for $52 million.

Plains LPG Services LP signed a definitive agreement, and closing is expected before May 31.

Bumstead, which has capacity of 133 million gal, will increase Plains's LPG storage capacity by 60%, said Plains LPG executives.

Assets include three salt dome caverns, a 24-car rail rack, and three truck racks capable of simultaneously loading or unloading six trucks.