Contacts:
Phil D. Kramer
Executive Vice President and CFO
713/646-4560 – 800/564-3036
Roy I. Lamoreaux
Manager, Investor Relations
713/646-4222 -- 800/564-3036
FOR IMMEDIATE RELEASE
Plains All American Pipeline Closes Tirzah LPG Storage Facility Acquisition
(Houston – October 2, 2007) Plains All American Pipeline, L.P. (NYSE: PAA) announced today that its subsidiary Plains LPG Services, L.P. has closed the acquisition of the Tirzah LPG cavern storage facility in York County, South Carolina from Suburban Propane, L.P. and Suburban Pipeline LLC. The total acquisition cost was approximately $54 million, after certain closing adjustments.
Plains All American Pipeline, L.P., a publicly traded master limited partnership, is engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products. Through its 50% ownership in PAA/Vulcan Gas Storage LLC, the partnership is also engaged in the development and operation of natural gas storage facilities. The Partnership is headquartered in Houston, TX.
END
|