Holly Energy Partners and Plains All American completed the formation of Cushing Connect Pipeline & Terminal for $130m.

Holly Energy Partners, a provider of petroleum product and crude oil transportation, terminalling, storage and throughput services, and Plains All American, a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, NGLs and natural gas, completed the formation of Cushing Connect Pipeline & Terminal, a newly formed company, for $130m. “The new Joint Venture will provide growth to HEP by insourcing logistics spend and provide the capability to supply 100% of HFC’s Tulsa Refinery crude throughput. Our partnership with Plains generates HEP growth while providing HFC long-term control of a strategic asset,” George Damiris, Holly Energy Partners Chief Executive Officer.