Tank Farm Lease
Gridlync land and infrastructure glossary.
A tank farm lease secures land for a cluster of storage tanks used to hold crude oil, refined products, or other liquids at a midstream terminal. Terms cover the site, access, environmental obligations, and rent. It secures a large terminal site for multiple storage tanks, addressing rent, environmental compliance, fire safety, and access for trucks or rail. Storage terminals carry long leases because the tank infrastructure is costly and permanent.
Storage terminals carry large surface leases with long terms. Gridlync tracks each tank farm and terminal lease alongside the connecting pipeline rights.
Example
Gulfport Terminals leases 40 acres from the Hendricks family for a crude tank farm at $180,000 a year over 30 years, with the lease assigning environmental remediation duties and securing a rail spur for loading.