Anastasio stated that NuStar expects to invest approximately $100 million to $120 million for these expansions, which are backed by a 10-year throughput commitment. According to Anastasio, the projects are expected to generate approximately $15 million in incremental, annual EBITDA once fully implemented. He noted that while the expansions would generate some EBITDA in 2013, the vast majority will be earned in 2014 and beyond.

About NuStar Energy

NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has 8,433 miles of pipeline; 82 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids; a fuels refinery with a throughput capacity of 14,500 barrels per day; and 50% ownership in two asphalt refineries with a combined throughput capacity of 104,000 barrels per day. The Partnership’s combined system has approximately 94 million barrels of storage capacity, and NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. For more information, visit NuStar Energy L.P.'s Web site at www.nustarenergy.com.

Copyright Business Wire 2010

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