Kinder Morgan to own Cochin pipeline
Jan 26, 2007 10:58 AM
Kinder Morgan Energy Partners LP (KMP), Houston, TX, has entered into an agreement with affiliates of BP plc to increase KMP's ownership stake in the Canadian/United States Cochin pipelines system to 100 percent, according to Kinder Morgan information.
The pipeline includes 31 pump stations spaced at 60-mile intervals and five US propane terminals. Underground storage, owned by third parties and KMP, is available in Canada at Fort Saskatchewan and Windsor.
The Cochin pipeline is an 1,800-mile pipeline system that transports propane, ethane, and butane (natural gas liquids (NGL) in Canada from the Fort Saskatchewan, Alberta, storage facility to Sarnia, Ontario. In the United States, Cochin Pipeline passes through North Dakota, Minnesota, Iowa, Illinois, Indiana, Ohio, and Michigan before crossing into Sarnia, according to BP information.
BP Canada Energy Company currently operates Cochin and owns just over 50 percent of the system. KMP, which presently has an almost 50-percent stake in Cochin, will assume operations of the pipeline from BP when the transaction closes.
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