Recent deals to boost Louisiana biofuels infrastructure
September 4, 2007
On July 10, Kinder Morgan Energy Partners LP announced a $41 million terminal expansion and acquisition deal that includes the construction of a terminal that will house liquid storage, transfer and packaging facilities at the Rubicon Plant site in Geismar, La. The company also purchased a 750,000-barrel capacity liquids terminal from Royal Vopak in Westwego, La., which Kinder Morgan said can be used to house vegetable oils and biofuels.
Also in Louisiana, Allegro Biodiesel Corp., the state's first biodiesel producer with a 12 MMgy refinery in Pollock, La., recently signed an agreement to purchase Talen Marine & Fuel, a midstream fuel supplier based in Lake Arthur, La., for approximately $42 million. Bruce Comer, Allegro Biodiesel CEO, said the acquisition is an important part of the company's vertical integration strategy, allowing Allegro to become not only a biodiesel producer but also a major distributor of petroleum and biodiesel fuel to more than 1,200 customers in the Gulf Coast region.
Also in Louisiana, Allegro Biodiesel Corp., the state's first biodiesel producer with a 12 MMgy refinery in Pollock, La., recently signed an agreement to purchase Talen Marine & Fuel, a midstream fuel supplier based in Lake Arthur, La., for approximately $42 million. Bruce Comer, Allegro Biodiesel CEO, said the acquisition is an important part of the company's vertical integration strategy, allowing Allegro to become not only a biodiesel producer but also a major distributor of petroleum and biodiesel fuel to more than 1,200 customers in the Gulf Coast region.
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