BP is reportedly seeking buyers for about $2bn of pipelines and storage terminals in the US.
Citing people familiar with the matter, Bloomberg reported that the move is a part the company’s efforts to divest some of its non-drilling infrastructure.
The company plans to divest four pipelines and a gas plant in the Gulf of Mexico, and 15 storage terminals in the Midwest and on the East Coast.
“Given the success of this model, we’re exploring the divestment of additional terminal assets in the US.”
BP is considering selling its interests in the Wilprise and Tri-States pipelines and the Pascagoula gas processing plant.
The assets are co-owned by Enterprise Products Partners.
Several reports suggest that the company may also divest its stakes in the Destin and Okeanos Gas pipelines, in which Enbridge is also a partner.
BP spokesman Scott Dean said in an e-mail: “BP successfully serves two-thirds of its customers’ fuel demand needs via third-party terminals throughout our marketing area.
“Given the success of this model, we’re exploring the divestment of additional terminal assets in the US.”
BP’s onshore natural gas production occurs primarily in the western and southern US. The company produced 628,000 barrels of oil equivalent per day in the country in 2013.
BP Pipelines owns and operates over 4,000 miles of pipelines and 21 terminals across 21 states and in the Gulf of Mexico. It transports more than 1.6 million barrels a day of oil, refined products, natural gas, natural gas liquids and chemicals.
