Metroplex Energy, a wholly-owned subsidiary of RaceTrac Petroleum Inc., recently entered into a long-term terminal services agreement with TransMontaigne Operating Company L.P., a wholly-owned subsidiary of TransMontaigne Partners L.P. (“TLP”), for four light products terminals in Florida.
As a result of the agreement, Metroplex will be TLP’s exclusive customer for gasoline, diesel and ethanol fuel storage at TLP’s terminals in Port Everglades South, Cape Canaveral and Port Manatee, which gives Metroplex control of throughput for those products at those terminals. The Tampa terminal was previously covered in a terminal services agreement between the two parties.
“This contract will provide increased flexibility and efficiency in our purchasing, storing and transporting capabilities and represents the next step in our strategy to secure supply to the growing number of stores we support across the state of Florida,” said President of Metroplex Energy Max McBrayer. “We will continue looking for opportunities to optimize the use of the tankage at the TransMontaigne terminals.”
While the Port Manatee terminal is currently focused on diesel storage, Metroplex intends to repurpose the facility to include gasoline, ethanol and diesel storage for rack business. This project is anticipated to be completed in the fall of 2015.