Raízen Bought Assets from Pampa Energía for US $20 Million

Source Press
Company Raizen Energia S.A.Pampa Energia SA 
Tags Asset Deals, Deals, LNG & Gas Storage/Processing
Date March 06, 2019

() Raízen Argentina, licensee of the Shell brand, acquired the Dock Sud logistics terminal of Pampa Energía for US $ 20 million. This is the first purchase of assets that Raízen performs in the country after obtaining the downstream business of Shell in October of last year.

The sale price was US $ 19.5 million for the terminal and US $ 1.39 million "for products at the Dock Sud Terminal," according to Pampa Energía, informed the National Securities Commission (CNV).

This sale responds to Pampa Energía's strategy of "focusing its investments and human resources both in the expansion of installed capacity for the generation of electric energy, and in the exploration and production of natural gas, with special focus on the development and exploitation of our reserves of unconventional gas (shale and tight gas), as well as continue to invest in the development of our public service concessions, "detailed in the document.

The surface has 30 hectares and 43 tanks with a nominal capacity of 228,000 cubic meters of product-crude oil, diesel, naphthas, biofuels, bases for lubricants and additives-and eight storage sheds.

In addition, it has four truck loading islands with a daily dispatch capacity of 4000 cubic meters, as explained in Raízen.

The company anticipates that this acquisition will allow it to expand its product storage capacity by 30% and its refinery area by 25%.

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