Energy minister Stuart Young has commended Phoenix Park Gas Processors Limited (PPGPL), whose subsidiary Phoenix Park Energy Marketing (PPEM) has completed acquisition of an NGLs terminal in Hull, Texas.
The state-controlled company said in a statement that the terminal was purchased from Keyera Energy Inc (KEI), a subsidiary of Keyera Corporation (Keyera), one of the largest midstream oil and gas operators in Canada, with headquarters in Calgary.
PPEM conducts marketing, trading and transportation of natural gas liquids in Canada, USA and Mexico. It said: “With this acquisition, PPEM can access and aggregate LPG supply to sustain and grow its markets in Mexico, Latin America and the United States.
“This transaction is aligned to Phoenix Park’s growth strategy of realising its vision to be a recognised global leader in the development of energy-related business.”
PPGL is owned by NGC NGL Company Ltd (51 percent), Trinidad and Tobago NGL Ltd (39 percent) and Pan West Engineers and Constructors LLC (10 percent).
The company said it’s pursuing a strategy to internationalise its business through the pursuit of value-added opportunities along the energy value chain.
With the completion of this acquisition, employees of PPGPL and PPEM will have further opportunities to apply their respective talents in the US midstream sector, thereby leveraging core skills and competencies in process safety, financial governance and NGL marketing, which the company says it’s known for locally, regionally and internationally.
For more information visit www.ppgpl.com
