The bunkering operation and associated assets of Hess supply the heavily trafficked ports of New York, Philadelphia, Baltimore, Norfolk and Charleston, and include around 250,000 cubic meters of leased tank storage.
According to Hess the bunkering operations averaged 1.8 million metric tons in annual sales, over the last three years.
The transaction, which is expected to be completed in the fourth quarter of 2013, is subject to customary closing conditions.
Aegean Marine Petroleum Network Nikolas Tavlarios said the company Hess has built a tremendous network, and company will apply expertise and capabilities to the established operations.
"This transaction will require minimal start-up costs and is fully-aligned with our objective of strategically expanding our global presence while leveraging our existing infrastructure to increase revenues," Tavlarios added.
