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Gibson Energy storage tanks at Hardisty, Alta. The Calgary-based company has terminal assets in Hardisty, Edmonton and Moose Jaw, Sask. Article content After several years of scouting for new opportunities, Gibson Energy has made its move with the largest acquisition in the company’s 70-year history, one that gives it a big footprint in the United States. Article content The Calgary-based energy infrastructure company, which provides storage, processing and gathering of oil and refined products at its Hardisty and Edmonton terminals, announced a $1.5-billion agreement last week to buy the South Texas Gateway Terminal (STGT). Article content The cash deal includes an export terminal at Ingleside, Texas, at the mouth of Corpus Christi Bay. It will provide Gibson with one million barrels per day of permitted oil export capacity and almost nine million barrels of terminal storage. “We’ve been looking to make an acquisition, a strategic acquisition, for the last four years…and across those four years, we didn’t find anything that actually, really fit,” Gibson Energy CEO Steve Spaulding said in an interview. “This is a world-class asset. It’s in a strategically competitive position. It has excellent credit-worthy, large customers. And it’s fed by one of the most premier crude […]
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