Kinder Morgan Energy Partners, L.P. has announced that 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.
Kinder Morgan Energy Partners is a leading pipeline transportation and energy storage company. It owns an interest in, or operates, approximately 51,000 miles of pipelines and 180 terminals.
The general partner of Kinder Morgan Energy Partners is owned by
Kinder Morgan, Inc., which is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $115 billion.
Kinder Morgan, Inc. 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 products such as ethanol, coal, petroleum coke and steel.
