Phoenix Park Gas Proces­sors Lim­it­ed (PPG­PL) through its whol­ly owned sub­sidiary Phoenix Park En­er­gy Mar­ket­ing LLC (PPEM) has com­plet­ed its ac­qui­si­tion of an NGLs ter­mi­nal lo­cat­ed in Hull Texas, USA.

The ac­quis­tion was com­plet­ed last week Fri­day.

The ter­mi­nal was pur­chased from Key­era En­er­gy Inc. (KEI), a sub­sidiary of Key­era Cor­po­ra­tion (Key­era), one of the largest mid­stream oil and gas op­er­a­tors in Cana­da with head­quar­ters in Cal­gary.

"Op­er­at­ing un­der the Phoenix Park brand, PPEM is en­gaged in the busi­ness of mar­ket­ing, trad­ing and trans­porta­tion of nat­ur­al gas liq­uids in Cana­da, USA and Mex­i­co," a re­lease from PPG­PL has stat­ed.

"With this ac­qui­si­tion, PPEM can ac­cess and ag­gre­gate LPG sup­ply to sus­tain and grow its mar­kets in Mex­i­co, Latin Amer­i­ca and the Unit­ed States," it stat­ed.

This trans­ac­tion is aligned to Phoenix Park’s growth strat­e­gy of re­al­iz­ing its vi­sion, “to be a recog­nised glob­al leader in the de­vel­op­ment of en­er­gy re­lat­ed busi­ness­es.”

PPG­PL is a state-con­trolled com­pa­ny and is owned by NGC NGL Com­pa­ny Lim­it­ed (51 per cent), T&T NGL Lim­it­ed (39 per cent) and Pan West En­gi­neers & Con­struc­tors LLC (10 per cent).

As part of the NGC Group, PPG­PL is pur­su­ing a strat­e­gy to in­ter­na­tion­al­ize its busi­ness through the pur­suit of val­ueadded op­por­tu­ni­ties along the en­er­gy val­ue chain.

Its first ac­qui­si­tion was on Feb­ru­ary 01, 2020, when PPG­PL ac­quired the NGL mar­ket­ing as­sets of Twin Ea­gle Liq­uids Mar­ket­ing LLC based in Hous­ton, Texas.

"With the com­ple­tion of this sec­ond ac­qui­si­tion, the em­ploy­ees of PPG­PL and PPEM will have fur­ther op­por­tu­ni­ties to ap­ply their re­spec­tive tal­ents in the US Mid­stream sec­tor there­by lever­ag­ing core skills and com­pe­ten­cies par­tic­u­lar­ly in the ar­eas of process safe­ty, fi­nan­cial gov­er­nance and NGL mar­ket­ing for which PPG­PL is recog­nised lo­cal­ly, re­gion­al­ly and in­ter­na­tion­al­ly," it stat­ed.