Kinder Morgan invests in terminals

Kinder Morgan Energy Partners LP has announced three initiatives that will further expand the company’s growing terminals business. The USD 36 million investment includes the purchase of two terminal facilities located along the Mississippi and Ohio Rivers, as well as a long-term contract to build additional storage capacity at KMP’s liquids terminal in New York Harbor. KMP has entered into a long-term storage agreement with a petroleum customer that will require construction of an additional 300,000 barrels of storage at its Perth Amboy, NJ terminal. As part of the project, KMP will build three 100,000-barrel tanks, increasing petroleum capacity at the facility by more than 20%.

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