49% Stake Acquired by Harvest Alaska in Taps and Alyeska

BP Transportation Alaska's ownership in all midstream interests in Alaska will be acquired by Harvest Alaska. This will include 49% interest in the 800-mile Trans-Alaska Pipeline System (TAPS), 49% of Alyeska Service Company and other related midstream interests.

"The Trans-Alaska Pipeline System is an icon of Alaska's energy industry and a monument to Alaskan ingenuity and will power. It's also a critical piece of infrastructure for America's energy future," said Jason Rebrook, Chief Executive Officer of Harvest Midstream. "We are proud to partner with Alyeska and the other members of the TAPS family to ensure a bright future for the system, for Alaskans, and for American energy independence."

Trans-Alaska Pipeline System is one of the largest pipelines in the world which transports approximately 2 million barrels per day of oil. The pipeline runs from the Prudhoe Bay oilfield to the Valdez Marine Terminal in Alaska. The operation of the pipeline will be continued by Alyeska Service Company and has transported over 17 billion barrels of product to date.

"TAPS is an engineering marvel that has played a critical role in the history of the energy industry," said Sean Kolassa, President of Harvest Midstream. "It will continue to play a very important role and we look forward to being a key partner in its future with focus on safety, the environment and the communities it connects."

Source:
worldpipelines