---

Buckeye Partners, L.P. has announced that it has acquired two petroleum products terminals in Maine and a 124-mile pipeline that connects the two terminals from affiliates of ExxonMobil.

Buckeye purchased 100 percent of the pipeline and a terminal in Bangor, Maine. The company also bought a terminal in Portland, Maine, through a 50/50 joint venture with Irving Oil Terminals Inc. that will be operated by Buckeye’s Development & Logistics group.

The Portland terminal is a marine terminal with approximately 725,000 barrels of storage capacity. The Bangor terminal has approximately 140,000 barrels of storage capacity.

"This acquisition is another example of our efforts to diversify into new geographic regions and to increase our marine terminals presence," said Forrest E. Wylie, Buckeye’s Chairman and CEO.

"As an independent owner and operator, Buckeye will seek to commercialize these assets by contracting with third party customers to drive incremental revenue. This transaction is supported by long-term commitments and is expected to be immediately accretive to Buckeye. Additionally, the Portland terminal further extends the reach of BDL’s operational footprint as well as advances our strategy to increase the breadth of assets under BDL operatorship beyond pipelines," added Wylie.

Buckeye Partners is a publicly traded partnership that owns and operates one of the largest independent liquid petroleum products pipeline systems in the United States in terms of volumes delivered, with over 6,000 miles of pipeline. Buckeye also owns more than 100 liquid petroleum products terminals with aggregate storage capacity of approximately 64 million barrels.

Buckeye’s flagship marine terminal in the Bahamas, BORCO, is one of the largest oil and petroleum products storage facilities in the world, serving the international markets as a premier global logistics hub.