Gibson Energy completed the acquisition of South Texas Gateway Terminal from Buckeye Partners for $1.1bn.

Gibson Energy, a Canada-based midstream oilfield service company, completed the acquisition of South Texas Gateway Terminal, a liquid terminal and export facility, from Buckeye Partners, a distributor of petroleum in the East and Midwest areas of the United States, for $1.1bn. “Since establishing Gibson as a leading liquids-focused infrastructure company, we have been looking for an opportunity that is a strategic fit, while enhancing our scale and diversity. After much patience and discipline, I am excited to add the world-class South Texas Gateway Terminal to our infrastructure portfolio. This transaction amplifies our high-quality infrastructure revenues and bolsters the continued growth of our distributable cash flow per share,” Steve Spaulding, Gibson Energy President and CEO.