Kinder Morgan Announces Expansion of New BOSTCO Oil Terminal Currently under
Construction on Houston Ship Channel
HOUSTON -- June 5, 2013
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced a
900,000-barrel expansion at the 185-acre Battleground Oil Specialty Terminal
Company, LLC (BOSTCO) currently under construction on the Houston Ship
Channel. The approximately $54 million expansion is supported by a long-term
leased storage and handling services contract with Morgan Stanley Capital
Group Inc. and includes six, 150,000-barrel, ultra low sulphur diesel tanks,
additional pipeline and deepwater vessel dock access, and high-speed loading
at a rate of 30,000 barrels per hour. Work on the 900,000-barrel expansion is
scheduled to start in the second quarter of 2013, with commercial operations
expected to begin in the fourth quarter of 2014.
A joint venture of KMP (which owns a 55 percent interest in and will operate
the facility) and TransMontaigne Partners L.P. (NYSE: TLP), the approximately
$485 million BOSTCO oil terminal at mile marker 43 on the Houston Ship Channel
is expected to begin commercial operations in the third quarter of 2013. With
the completion of this expansion the terminal will be fully subscribed for the
total capacity of 7.1 million barrels and will include the construction of 57
storage tanks to handle ultra low sulphur diesel, residual fuels and other
black oil terminal services. BOSTCO is currently employing more than 700 local
contractors and about 75 full-time employees will be needed to operate the
facility once it is completed.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline
transportation and energy storage company and one of the largest publicly
traded pipeline limited partnerships in America. It owns an interest in or
operates approximately 51,000 miles of pipelines and 180terminals. The
general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI).
Kinder Morgan is the largest midstream and the third largest energy company in
North America with a combined enterprise value of approximately $115 billion.
It owns an interest in or operates approximately 80,000 miles of pipelines and
180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO
and other products, and its terminals store petroleum products and chemicals
and handle such products as ethanol, coal, petroleum coke and steel. KMI owns
the general partner interests of KMP and El Paso Pipeline Partners, L.P.
(NYSE: EPB), along with limited partner interests in KMP, and EPB and shares
in Kinder Morgan Management, LLC (NYSE: KMR). For more information please
This news release includes forward-looking statements. These forward-looking
statements are subject to risks and uncertainties and are based on the beliefs
and assumptions of management, based on information currently available to
them. Although Kinder Morgan believes that these forward-looking statements
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 include those enumerated in Kinder Morgan’s reports filed with the
Securities and Exchange Commission. Forward-looking statements speak only as
of the date they were made, and except to the extent required by law, Kinder
Morgan undertakes no obligation to update or review any forward-looking
statement because of new information, future events or other factors. Because
of these uncertainties, readers should not place undue reliance on these
Kinder Morgan Energy Partners, L.P.
Joe Hollier, (713) 369-9176
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