Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced the
completion and startup of a 16-inch dedicated ethanol pipeline
connection between its Linden, N.J., unit train facility and its largest
New York Harbor terminal in Carteret, N.J. The Linden terminal has
handled as much as 36,000 barrels of ethanol a day, with 550,000 barrels
of storage through Citgo Petroleum’s Tremley Point terminal, which
features a high-speed truck rack, a barge and a ship dock. The project
complements a previously announced $60 million expansion project at
Carteret, which added more than 1 million barrels of storage to the
nearly 8 million barrels of storage currently in place at the terminal.
The pipeline has the dual benefit of allowing Linden customers access to
four Carteret barge docks and two ship docks, while effectively
expanding the storage capacity of the Linden terminal. Conversely,
ethanol customers at Carteret now have access to a full unit train
receiving system. Initially, Kinder Morgan is projecting that an
additional 195,000 barrels at Carteret will be employed in ethanol
service. The directional drill pipeline includes full automation and a
state-of-the-art leak detection system. Initially, the pipeline will be
operated to move domestic grade, fully denatured product, however,
Linden will be offering the capability to handle ethanol specifications
suitable for export in the near future as the market dictates.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline
transportation and energy storage company in North America. KMP owns an
interest in or operates approximately 29,000 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 such products as ethanol, coal, petroleum coke and
steel. KMP is also the leading provider of CO2 for enhanced oil recovery
projects in North America. One of the largest publicly traded pipeline
limited partnerships in America, KMP and Kinder Morgan Management, LLC
(NYSE: KMR) have an enterprise value of over $40 billion. The general
partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Combined,
KMI, KMP and KMR constitute the largest midstream energy entity in the
United States with an enterprise value of over $65 billion. For more
information please visit www.kindermorgan.com.
This news release includes forward-looking statements. Although Kinder
Morgan believes that its expectations are based on reasonable
assumptions, it can give no assurance that such assumptions will
materialize. Important factors that could cause actual results to differ
materially from those in the forward-looking statements herein are
enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the
Securities and Exchange Commission.
