TransMontaigne Partners L.P. (TLP) and Blueknight Energy Partners, L.P. (BKEP) have entered into agreements for the construction and operation of 1,000,000 barrels of crude oil storage adjacent to BKEP’s Cushing, Oklahoma facility. TLP will lease a portion of the land at BKEP’s Cushing, Oklahoma facility and build storage tanks and required infrastructure on that property; in return, they will receive crude oil by truck and pipeline, the blending of crude oil and the storage of 1,000,000 barrels of crude oil. BKEP and TLP will collaborate on the design and construction of the facility and BKEP will provide operational services for TLP under a long-term operating agreement. BKEP will also provide connectivity between the TLP facility and the Cushing market via the company’s existing facility and infrastructure. TLP has entered into a long-term services agreement with Morgan Stanley Capital Group Inc. for the use of the TLP facility. Construction of the TLP facility is scheduled to begin in August with completion expected by the second quarter of 2012. The anticipated cost of the project is under USD 25 million.