Buckeye Partners, L.P. signed an agreement with Royal Dutch Shell plc to acquire a refined petroleum products terminal on the southeast coast of Puerto Rico. Located in Yabucoa, Puerto Rico, the terminal consists of 44 storage tanks containing 4.6 million barrels of gasoline, jet fuel, diesel, fuel oil, and crude storage capacity. Buckeye’s investment provides them with long term fee based revenues backed by multi year commitments from Shell. A publicly traded partnership, Buckeye owns and operates an independent refined petroleum products pipeline system in the U.S. The company also owns 67 refined petroleum products terminals, operates and maintains 2400 miles of pipeline under agreements with oil and chemical companies and owns a natural gas storage facility in northern California. The acquisition is expected to close in December of 2010.