Buckeye Partners, L.P. has signed a purchase and sale agreement to sell all of the outstanding limited liability company interests in Lodi Gas Storage, L.L.C. (Lodi) to Brookfield Infrastructure and its institutional partners (Brookfield) for $105 million.

Lodi owns a natural gas storage facility in Northern California. The transaction is expected to close in the fourth quarter of 2014 or the first quarter of 2015, subject to approval by the California Public Utilities Commission and customary and other closing conditions.

Tags: Buckeye Partners