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Marathon Petroleum adds refined product export capacity with Louisiana terminal purchase

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Platts Global Alert - Oil

Marathon Petroleum adds refined product export capacity with Louisiana terminal purchase

New York — Marathon Petroleum has increased its capacity to export gasoline and diesel from the Gulf Coast with the purchase by MPLX, its sponsored master limited partnership, of a Louisiana export and storage terminal, MPLX said Wednesday.

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The facility, which will be known as MPLX's Mt Airy Terminal, currently has 4 million barrels of leased storage capacity and a 120,000 b/d dock. Space exists to expand storage to 10 million barrels and add a second 120,000 b/d dock.

"This growth potential is significant, as multiple pipelines and rail lines cross the property, and the terminal is positioned as an aggregation point for liquids growth in the region for both ocean-going vessels and inland barges," MPLX said in a statement.

The terminal is located on the Mississippi River between New Orleans and Baton Rouge, near nine lower-Mississippi refineries, including Marathon Petroleum's Garyville, Louisiana, refinery.

"With a prime location on the Mississippi River and proximity to over 2 million b/d of refining capacity, this terminal will serve as a platform to meet growing export needs, expand our third-party business, and give MPLX tremendous flexibility to help its customers meet upcoming International Maritime Organization fuel standards," MPLX president Brian Hennigan said.

MPLX bought the facility for $450 million from Pin Oak Holdings.

Marathon recently consummated its merger with fellow refiner, Andeavor, to become the largest US refining company.

Marathon exported 311,000 b/d of refined products in the second quarter, comprised of about 29% gasoline and 67% diesel, with the remaining 4% asphalt.

The Mt Airy terminal is also located near Marathon's Louisiana asphalt terminal.

--Janet McGurty, janet.mcgurty@spglobal.com

--Edited by Wendy Wells, wendy.wells@spglobal.com