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Kinder Morgan expanding GP terminal

KINDER MORGAN maintains these oil storage tanks in Galena Park, and others in Pasadena, and has announced a major expansion of capacity of tanks and ship docks.
KINDER MORGAN maintains these oil storage tanks in Galena Park, and others in Pasadena, and has announced a major expansion of capacity of tanks and ship docks.

HOUSTON – Oct. 14, 2014 – Kinder Morgan Energy Partners, L.P. announced last week an expansion project at its Pasadena and Galena Park terminals that will provide additional infrastructure to help meet growing demand for refined product storage and dock services along the Houston Ship Channel. The combined investment of approximately $240 million will include the construction of 2.1 million barrels of storage between the two terminals. Kinder Morgan will also construct a new ship dock capable of handling ocean going vessels and infrastructure improvements at its Galena Park Terminal that will significantly increase the vessel load rates across the existing ship docks. The project is backstopped by long-term contracts with existing customers.

The new ship dock and the existing Galena Park ship docks will be capable of loading vessels at rates up to 15,000 barrels per hour.

“The new tankage will provide refined product producers and traders the ability to send more barrels to the water for international exports or to the network of pipelines for domestic use,” said John Schlosser, president of Kinder Morgan Terminals. “Kinder Morgan will now have nine ship docks on the Houston Ship Channel and will double the load rates on existing docks. We see continuing strong demand for transporting fuel to the Gulf Coast to reach export markets.”

Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline transportation and energy storage company and one of the largest publicly traded pipeline limited partnerships in America. It owns an interest in or operates approximately 52,000 miles of pipelines and 180 terminals. The general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $120 billion. It owns an interest in or operates approximately 80,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interests of KMP and El Paso Pipeline Partners, L.P. (NYSE: EPB), along with limited partner interests in KMP and EPB and shares in Kinder Morgan Management, LLC (NYSE: KMR).