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BP seeking bids for $2 bln in U.S. pipeline operations - Bloomberg

Tue, 21st Apr 2015 21:41

April 21 (Reuters) - BP Plc is seeking buyers for asmuch as $2 billion of U.S. pipelines and storage terminals,Bloomberg reported, citing people familiar with the matter.

In the last two weeks, BP sent offering materials topotential buyers of two batches of assets - its interest in fourpipelines and a gas plant along the Gulf of Mexico, and 15storage terminals in the Midwest and on the East Coast,Bloomberg said. (http://on.ft.com/1GgB9PN)

BP is looking to sell stakes in three Gulf of Mexico assetsit co-owns with Enterprise Products Partners LP : theWilprise and Tri-States Pipelines and the Pascagoula GasProcessing Plant, Bloomberg said.

BP is also seeking to sell its stakes in the Destin andOkeanos Gas pipelines, which it co-owns with Enbridge Inc, according to the report.

BP did not immediately respond to an email seeking comment.

This week marks the five year anniversary of the largest oilspill in U.S. history that spewed millions of gallons of crudeinto the Gulf of Mexico and cost BP, which owned the well, $42billion in fines. (Reporting by Supriya Kurane in Bengaluru)

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