Tuesday, July 17, 2012

Columbiana County Port Authority Strikes Deal with Marathon Petroleum

From The Review:
The Columbiana County Port Authority acted Monday to help Marathon Petroleum expand its Wellsville operations and bring a similar company to the village that also intends to take advantage of the shale gas boom under way in the region.
First, the Port Authority board approved a memorandum of understanding to sell 3.6 acres to Marathon for a lump-sum payment of $2.4 million. The property is part of the Port Authority's riverfront industrial park in Wellsville, which is located next door to Marathon's storage tank/transfer facility.
Port Authority CEO Tracy Drake said the proposed purchase is reflective of Marathon's efforts to become a bigger player in the regional oil and gas boom. The Port Authority property will be used as a staging area for trucks transporting oil and gas collected from local wells, with a pipeline to carry the material from the parking area to Marathon's 2.5 million gallon twin storage tanks.
"It will be basically a truck facility," Drake said.
The deal allows truck traffic to go directly from state Route 7 to the Port Authority, bypassing residential neighborhoods currently used to access Marathon property.
Read the rest of the article here.

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