According to Buckeye, the terminal network holds the total storage capacity of about 39 million barrels.

The company noted that the 19 domestic terminals are located in major metropolitan locations along the US East Coast, which have about 29 million barrels of refined petroleum products storage capacity, including about 15 million barrels of capacity in New York harbor.

With deep-water access, the terminal on Caribbean’s St Lucia has around 10 million barrels of crude oil and refined petroleum products storage capacity.

Buckeye Partners president and CEO Clark Smith said the acquisition strengthens company’s presence in major markets along the East Coast and further solidifies position in the Caribbean.

"In the New York Harbor, the combination of the Port Reading facility, our Perth Amboy terminal, and our Linden hub provide the opportunity to create a large, integrated network that leverages our existing pipeline connections allowing us to optimize the capabilities at each location for our customers," Smith added.