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Article: El Paso Corp. Sells Fuel Terminals to Denver-Based Natural-Gas Pipeline Owner.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 15, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Patrick Danner, The Miami Herald Knight Ridder/Tribune Business News
Jan. 15--Denver-based TransMontaigne, a major natural-gas pipeline owner, has agreed to acquire El Paso Corp.'s Florida petroleum terminals and tug-and-barge operations in a deal valued at $155 million.
The transaction will nearly quadruple TransMontaigne's presence at Port Everglades, where its storage capacity now is about 422,000 barrels, according to company Chief Executive Donald H. Anderson.
It will also give TransMontaigne a foothold at Fisher Island, where El Paso can store 660,000 barrels. A six-tug operation at Fisher Island is included in the deal.
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...El Paso Share Price Loser in Wyatt-Wise Duel In the verbal sparring match between El Paso Chairman William A. Wise and Oscar S. Wyatt ... the stock price is the biggest loser. When El Paso acquired Coastal Corp. -- the energy producer ...
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