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13-05-2013

Kinder Morgan announces land purchase

Kinder Morgan Energy Partners, L.P. today announced it will invest $106 million to purchase approximately 20 acres adjacent to its Pasadena, Texas, terminal, build nine new tanks with a storage capacity of 1.2 million barrels at its Galena Park terminal under long-term customer agreements, and construct a new barge dock that is expected to help relieve current barge congestion in the Houston Ship Channel. The purchased acreage will be used to support a future crude condensate and refined products terminal capable of handling 10 150,000-barrel tanks with a connection to the Explorer Pipeline. The new barge dock, which will enhance existing infrastructure at the Pasadena terminal, will provide additional capacity to handle up to 50 barges per month. 

“We are excited to add this new infrastructure that will enhance the largest petroleum storage facility in North America benefiting both our base and new customers,” said John Schlosser, president of Kinder Morgan Terminals.

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