BP Sells 30% Interest in the Olympic Pipeline

An affiliate of ArcLight Capital has acquired a 30% interest in the entity that owns the Olympic Pipeline from ARCO Midcon LLC, an affiliate of BP Pipelines (North America) Inc.

The Olympic Pipeline is a regulated interstate refined products pipeline system that spans approximately 400 miles across the states of Washington and Oregon. BP Pipelines will continue to operate the pipeline under a multi-year operating agreement. This transaction follows an earlier agreement between ArcLight and BP to enter into a joint venture across two large-scale refined product terminals that are interconnected to the Olympic Pipeline.