March 4, 2014 / 5:35 PM / 4 years ago

UPDATE 1-Nustar leases Caribbean, Canadian storage to two oil companies

March 3 (Reuters) - Nustar Energy said on Monday it
signed long-term agreements to lease crude oil storage at its
two Atlantic storage terminals in the Caribbean and Canada to a
national oil company and a U.S. oil major.
    The San Antonio, Texas-based company said it entered into an
agreement with an unnamed national oil company for 5 million
barrels of light crude oil storage capacity at its St. Eustatius
terminal in the Caribbean, with the first oil shipment expected
this week.
    The second deal was with a major U.S. oil company that
leased 3 million barrels of light crude oil storage at Nustar's
Point Tupper terminal in Nova Scotia, Canada, that will go into
effect this summer. 
    Nustar declined to identify the parties to the agreements or
the value and duration of the contracts. 
    The St. Eustatius terminal has a tank capacity of up to 13.4
million barrels while the terminal in Point Tupper, located
about 700 miles (1,100 km) from the New York Harbor, can store
up to 7.7 million barrels.
    Brazil's state-run Petrobras has a contract to store
ultra-low sulfur diesel (ULSD) and gasoline at the St Eustatius
facility, according to trade sources. The company has also used
the terminal to blend gasoline from Brazil, the sources said.

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