Buckeye Partners

What Buckeye Partners does

Buckeye Partners, L.P. is a U.S. midstream energy infrastructure company headquartered in Houston, Texas, operating since 1886. The company owns and operates one of the largest independent liquid petroleum products pipeline networks in the United States, comprising over 5,000 miles of pipeline, more than 130 terminals, and approximately 125–130 million barrels of aggregate tank capacity across the U.S. East Coast, Midwest, Gulf Coast, and the Caribbean. Buckeye also operates marine terminals — including the Buckeye Bahamas Hub (one of the world's largest marine storage facilities), the 50%-owned South Texas Gateway joint venture at Port of Corpus Christi with Phillips 66 Partners and Marathon Petroleum, and Buckeye Texas Partners — providing global logistics connectivity, crude oil export capacity with VLCC loading, and product blending services.

The company generates revenue through fee-based pipeline transportation services (tariffs paid by customers for pipeline capacity), recurring terminal storage and throughput fees, marine terminal handling and blending services, and wholesale refined petroleum product distribution through its Buckeye Energy Services segment. Pricing is contract-based and not publicly disclosed, with multi-year service agreements typical. Primary customers are enterprise-scale oil and gas producers, refiners, and trading/marketing companies; secondary segments include clean energy developers (hydrogen, CCS) and transportation fuel customers. Under IFM Investors ownership since November 2019 ($10.3B enterprise value), Buckeye has diversified into alternative energy via acquisitions of Bear Head Energy (green hydrogen/ammonia, Nova Scotia), Elysian Carbon Management (CCS), OneH2 (hydrogen fuel logistics), solar projects in Texas, and a minority stake in FLIQ2 Holdings (LNG). In July 2025, Buckeye spun out its majority stake in Swift Current Energy to IFM to refocus on core midstream and energy transition infrastructure. CEO Todd Russo currently leads the company.

Name

Buckeye Partners

Legal name

Buckeye Partners, L.P.

Website

https://buckeye.com

Company type

Private

Founded year

1886

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Buckeye Partners is a Houston-based midstream energy infrastructure company operating 5,000+ miles of liquid petroleum pipelines, 130+ terminals, and marine export facilities across the U.S. and Caribbean. It serves refiners, producers, and commodity traders through long-term transportation, storage, and throughput contracts, and is expanding into hydrogen and CCS.

Ownership category

akta.pro rank

Product category

Midstream Energy Infrastructure and Logistics

NAICS

Pipeline Transportation of Refined Petroleum Products (486910), Pipeline Transportation of Crude Oil (4861), Petroleum Bulk Stations and Terminals (424710)

SIC

Pipe Lines (No Natural Gas) (4610), Wholesale-Petroleum Bulk Stations & Terminals (5171), Water Transportation (4400)

akta.pro industry

PRIMARYEUALADAK

Pipeline Operations, Integrity & Control (SCADA, Pigging, Leak Detection)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Midstream Transportation (Pipelines, Shipping, Rail & Truck)

SECONDARYEUALAEAG

Marine Terminals & Port Storage (Jetties, Docking, Bunkering Interfaces)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Midstream Storage & Terminals (Tank Farms, Caverns, LNG Terminals)

SECONDARYEUALAEAL

Hazardous Liquids & Specialty Chemical Terminals (Methanol, Solvents, Sulfur)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Midstream Storage & Terminals (Tank Farms, Caverns, LNG Terminals)

SECONDARYTLAHABAH

Liquid Bulk Petroleum Terminals (Crude, Refined Products)

Transportation & Logistics/Ports, Terminals & Maritime Services/Bulk Cargo Terminals (Dry & Liquid Bulk)

Keywords

• Midstream energy infrastructure
• Pipeline transportation services
• Liquid petroleum storage
• Marine terminal operations
• Alternative energy development

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Pipeline Transportation Services: Fee-based pipeline transportation services for liquid petroleum products. Customers pay tariffs for pipeline access and transportation capacity over the company's extensive domestic pipeline network.
2. Terminal Storage Services: Storage capacity fees at the company's liquid petroleum products terminals. Customers pay for tank storage, throughput, and handling services at inland and marine terminals.
3. Marine Terminal and Logistics Services: Marine terminalling, crude oil loading/unloading, blending services, and global logistics connectivity through major storage and blending hubs.
4. Product Marketing and Distribution: Wholesale distribution of refined petroleum products in certain areas served by pipelines and terminals.
5. Alternative Energy Development: Investments in and development of alternative energy projects including hydrogen, solar, wind, and LNG, generating revenue from clean energy production and export.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Buckeye Partners operates as a premier midstream energy infrastructure and logistics provider, transporting, storing, and processing liquid petroleum products across the United States and Caribbean. Its integrated network includes more than 5,000 miles of pipeline, 130+ liquid petroleum products terminals with approximately 125-130 million barrels of tank capacity, and global marine terminals including the flagship Buckeye Bahamas Hub and the South Texas Gateway export facility. The company is also developing alternative energy capabilities spanning green hydrogen, solar power, and carbon capture and storage solutions.

Product overview

Buckeye Partners operates as a premier infrastructure and logistics provider for the world's energy needs. The company offers a diversified portfolio of integrated midstream assets centered on the transportation, storage, processing, and marketing of liquid petroleum products. Core infrastructure includes approximately 5,000+ miles of domestic pipeline, 130+ liquid petroleum products terminals, and approximately 125-130 million barrels of tank capacity across the United States and Caribbean. The company is expanding into alternative energy through strategic acquisitions including: Bear Head Clean Energy (green hydrogen/ammonia production in Nova Scotia), Elysian Carbon Management (carbon capture and storage), OneH2 (hydrogen fuel solutions), and various solar projects. Major facilities include South Texas Gateway (joint venture marine terminal), Buckeye Bahamas Hub (flagship marine terminal), Buckeye Texas Partners (Gulf Coast hub), and investments in LNG infrastructure through FLIQ2 Holdings.

Differentiator

Problem solved

Functional benefit

Brands

• South Texas Gateway (STG): Crude oil export terminal at Port of Corpus Christi, Ingleside, Texas
• Buckeye Texas Partners (BTP)
• Buckeye Bahamas Hub (BBH)
• Buckeye Energy Services
• Buckeye Alternative Energy

Products and services

• Pipelines & Terminals Integrated pipeline transportation and terminal storage services for liquid petroleum products spanning the U.S. East Coast, Midwest, Gulf Coast, and Caribbean, with multi-year transportation, throughput, and storage agreements for refiners, producers, and trading companies.
• Buckeye Energy Services Marketing and logistics services for liquid petroleum products, providing wholesale distribution of refined petroleum products in certain areas served by Buckeye's pipelines and terminals as part of integrated midstream solutions.
• Buckeye Bahamas Hub

Quantifiable outcome

• 50% Reduction in Net Emissions by 2025 (across scope 1 and 2 GHG emissions)
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered major, core and minor.

• Elysian Carbon ManagementmajorStrategic or Co-development Partner · 17 July 2023Acquired by Buckeye from EnCap Flatrock Midstream. Elysian provides integrated end-to-end carbon capture and storage (CCS) solutions to industrial and power facilities.
• Bear Head Energy, Inc.majorStrategic or Co-development Partner · 13 July 2022Acquired by Buckeye. Developing large-scale green hydrogen and ammonia production, storage, and export project in Point Tupper, Nova Scotia with hydrogen electrolyzer capacity over 2 gigawatts.
• Magellan Midstream Partners, L.P.majorChannel Partner/ Reseller/ Distributor · 8 June 2022Sold its independent terminals network to Buckeye for $435 million. The network comprised 26 refined petroleum products terminals with approximately 6 million barrels of storage primarily in southeastern U.S.
• Nala RenewablesmajorStrategic or Co-development Partner · 7 April 2021Joint investors with Buckeye Partners in Swift Current Energy, a North American clean energy platform. Nala Renewables was formed by Trafigura and IFM Investors. Buckeye distributed its stake in Swift Current to IFM in July 2025.
• Swift Current EnergymajorStrategic or Co-development Partner · 7 April 2021Boston-based clean energy development platform in which Buckeye and Nala Renewables acquired majority ownership. Has commercialized over 1.1 GW of renewable projects with 6+ GW pipeline. Buckeye distributed its stake to IFM in July 2025.
• OneH2, Inc.coreStrategic or Co-development Partner · 27 January 2021Buckeye made an equity investment in OneH2, a provider of hydrogen fuel supply and logistics solutions. Other investors include Navistar, Trafigura, Sumitomo Corporation, and The Pape Group. OneH2 serves forklift market and develops heavy truck hydrogen projects.
• Navistar International CorporationminorStrategic or Co-development Partner · 27 January 2021Co-investor in OneH2 hydrogen fuel company. Provides hydrogen heavy truck development programs and demand from hydrogen forklift fleets.
• Sumitomo CorporationminorStrategic or Co-development Partner · 27 January 2021Co-investor in OneH2 hydrogen fuel company, bringing fuel supply and distribution capabilities.
• Phillips 66 Partners LPmajorStrategic or Co-development Partner · 16 July 202025% joint venture partner in South Texas Gateway (STG) terminal at Port of Corpus Christi. STG has 8.6 million barrels storage capacity with potential to expand to 10 million barrels.
• Marathon Petroleum CorporationmajorStrategic or Co-development Partner · 16 July 202025% joint venture partner in South Texas Gateway (STG) terminal at Port of Corpus Christi. STG has 8.6 million barrels storage capacity with potential to expand to 10 million barrels.
• Freeport LNGmajorStrategic or Co-development PartnerBuckeye holds 57.6% equity interest in Freeport LNG Development's Train 2 (contributed by IFM GIF). Facility exports natural gas to end markets worldwide. Also has significant interest in FLIQ2 Holdings for LNG train and common facilities at Freeport terminal.

Scale indicators12 records

Recent moves10 records

Expansion highlights4 records

Direct peers

• Energy Transfer: Major midstream operator with extensive crude, NGL, and refined product pipelines, terminals, and marine terminals along the Gulf Coast. Comparable to Buckeye in pipeline scale, terminal storage, and export logistics.
• Magellan Midstream Partners: Previously a direct competitor in refined petroleum products pipelines and terminals; Buckeye acquired 26 of Magellan's independent terminals for $435M in 2022, making it the most direct U.S. midstream counterpart for liquid petroleum logistics.
• NuStar Energy: Pipeline and terminal operator for crude oil, refined products, and renewable fuels. Comparable to Buckeye in refined product storage and pipeline transportation, with overlap in fuel terminal operations across the U.S.
• Enterprise Products Partners: One of the largest U.S. midstream energy companies operating natural gas, NGL, crude oil, and refined product pipelines, terminals, and marine export facilities. Directly comparable to Buckeye across refined product pipelines, terminal storage, and Gulf Coast export infrastructure.
• Kinder Morgan: The largest U.S. midstream energy infrastructure company, operating over 80,000 miles of pipeline and ~180 terminals. Comparable to Buckeye across petroleum product transportation, terminal storage, and CO2/CCS exposure.
• ONEOK: Midstream operator focused on natural gas liquids, natural gas, and refined products. Comparable to Buckeye in pipeline transportation and terminal storage, particularly in NGL and refined product logistics.
• Plains All American Pipeline: Major U.S. crude oil pipeline and storage operator with significant Gulf Coast export infrastructure. Comparable to Buckeye in crude transportation, terminal storage, and export logistics, with overlapping marine terminal capabilities.
• Sunoco LP: Master limited partnership focused on fuel distribution and terminalling across the U.S. Comparable to Buckeye in refined product terminals, storage, and wholesale fuel distribution operations.
• Targa Resources: Midstream operator with NGL, natural gas, and crude oil infrastructure including Gulf Coast processing and export facilities. Comparable to Buckeye in terminal operations and downstream liquid hydrocarbon logistics.

Broad incumbents

• Phillips 66: Integrated refiner and major midstream owner; JV partner in South Texas Gateway (25%). Comparable in refined product logistics and Gulf Coast export infrastructure, though broader downstream integration differentiates it from Buckeye's pure midstream focus.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/buckeye-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Buckeye Partners