Kinder Morgan plans terminal expansion
Sep 18, 2006 1:34 PM
Kinder Morgan Energy Partners LP announced major expansions at its liquids terminals in Texas that will provide additional infrastructure to help meet the growing need for more storage capacity along the Gulf Coast for refined petroleum products.
The investment of approximately $195 million will include the construction of new storage tanks at KMP's Pasadena and Galena Park terminals on the Houston Ship Channel, an additional cross-channel pipeline to increase connectivity between the two terminals, a new ship dock at Galena Park, and an additional bay at the company's Jefferson Street truck-rack facility.
The expansions are supported by long-term customer commitments and will result in 3.4 million barrels of additional tank storage capacity at the Pasadena and Galena Park terminals. Construction will begin this month and all of the projects are expected to be completed by spring of 2008. Company officials noted that one aspect of the expansion is an agreement KMP has with Green Earth Fuels to build six tanks at Galena Park solely for the purpose of storing biodiesel. KMP will receive a fee for storing and transferring the alternative fuel.
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