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Hess Corporation has notified the prime minister of Saint Lucia, Dr Kenny Anthony, that its storage terminal at Cul de Sac has been sold, the government has confirmed.

The confirmation is said to have been made in a direct conversation between John Hess, president of Hess Corporation, and Dr Anthony.

Hess informed the prime minister that the Saint Lucia terminal, along with terminals on the U.S. East coast, had been sold to Buckeye Partners L.P. He explained that the company had made the decision to move away from the terminal business and focus on exploration.

Dr Anthony is said to have thanked Hess Corporation for its contribution to the development of Saint Lucia and mentioned that the people of the island country would never forget the kindness of his father, Leon Hess.

"Mr. Leon Hess was not just an investor, he was a friend of the people of Saint Lucia, an extraordinary and rare humanitarian. He will live in the hearts and minds of the people of Saint Lucia for a long time to come," Dr Anthony is quoted as saying during the telephone conversation.

Hess Corporation has sold its terminal network in Saint Lucia and the U.S. East Coast to Buckeye Partners for a total consideration of $850 million.

The sale of the terminal network, along with the sales of four upstream producing assets completed earlier this year and the announced sale of the energy marketing business, brings total year-to-date divestitures to $5.4 billion.

Hess Corporation is a leading global independent energy company primarily engaged in the exploration and production of crude oil and natural gas, and the marketing of refined petroleum products, natural gas and electricity.