ArcLight Capital Partners has acquired a 30 percent interest in the entity that owns the Olympic Pipeline from ARCO Midcon, an affiliate of BP Pipelines.
The Olympic Pipeline is a regulated interstate refined products pipeline system that spans approximately 400 miles across the states of Washington and Oregon. BP Pipelines will continue to operate the pipeline under a multi-year operating agreement.
The transaction follows an earlier agreement between ArcLight and BP to enter into a joint venture across two large-scale refined product terminals that are interconnected to the Olympic Pipeline.
In connection with the transaction, ArcLight has granted TransMontaigne Partners, also an ArcLight affiliate, a right of first offer to purchase ArcLight’s interest in the entity that owns the Olympic Pipeline.
