Targa Resources Partners acquires additional property on Houston Ship Channel Targa Resources Partners announced that it has acquired additional property on the Houston Ship Channel that provides expansion potential for both its Petroleum Logistics clean fuels business and its propane/butane export capabilities. Targa Patriot, which is located about two miles from the Partnership's Galena Park Marine Terminal, includes an existing dock, acreage for expansion build-out, an existing rail siding, and nearby access to the Colonial/Explorer refined products pipeline interconnect hub. The initial investment including acquisition of the property and dock upgrade and refurbishment is approximately $25M. Further plans for clean fuels and/or propane/butane export activity are being developed and could significantly increase growth capital expenditures over time.
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