SGLP Signs Asphalt Storage Contracts

SemGroup Energy Partners LP completes asphalt storage contracts or leases related to its asphalt facilities with various counterparties.
As a result, SGLP has 45 of its 46 total asphalt facilities under a storage contract or lease agreement.
“The contracting of our facilities has required a significant coordinated effort and the execution of these additional contracts essentially completes the task to get our asphalt facilities under contract,” said Jerry Parsons, executive vice president of Asphalt Operations. “We now have agreements with 13 counterparties for our asphalt facilities with terms primarily extending through December 31, 2011.“
SGLP will operate the facilities under the storage agreements and the contract counterparties will operate the facilities under the lease agreements.
SGLP will receive storage fees or lease payments as applicable from the new counterparties.

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