Phoenix Park acquires Minnesota propane terminal

Phoenix Park Energy Marketing LLC (PPEM), a wholly owned subsidiary of Phoenix Park Gas Processors Ltd. (PPGPL), completed its purchase of a propane terminal in Rush City, Minnesota, from Interstate Fuel & Energy LLC. This is Phoenix Park’s third acquisition in the U.S. since 2020.

Phoenix Park Energy Marketing completed its third acquisition in the U.S. since 2020. (Photo: Phoenix Park Energy Marketing LLC)

PPEM, operating under the Phoenix Park brand, markets, trades and transports natural gas liquids (NGLs) in Canada, the U.S. and Mexico. With this acquisition, PPEM intends to increase its utilization of the terminal and continue to grow its markets in the midwestern U.S.

The company says this latest development is aligned with its growth strategy “to be a recognized global leader in the development of energy-related businesses.”

PPEM’s parent company, PPGPL, is a subsidiary of the National Gas Co. of Trinidad and Tobago and is headquartered in Trinidad and Tobago. It is the only NGL hub in the Caribbean region involved in natural gas processing, fractionating, aggregation and NGLs marketing.

PPEM says it looks forward to working with the Interstate team not only on the transition of the business but also on future wholesale opportunities.

Phoenix Park’s first acquisition came in 2020 when the company, through PPEM, acquired the NGL marketing assets of Twin Eagle Liquids Marketing, based in Houston. It then completed a terminal acquisition in Hull, Texas, in early 2022.