HOUSTON--(BUSINESS WIRE)--Feb. 21, 2013--
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced KW
Express LLC, a partnership between KMP and Watco Companies L.L.C., has
entered into a long-term agreement with Mercuria Energy Trading Company
Inc., to construct a 210,000 barrel per day (bpd) crude by rail project
at the Greens Port Industrial Park on the Houston Ship Channel. The
project will allow Mercuria Energy Trading, Inc. to source crude from
various origination locations including Cushing, Okla., West Texas, the
Bakken shale area and western Canada for delivery by rail into the
Houston Ship Channel for distribution to various refiners via pipeline
and barges. The facility will have the capability to unload and load up
to three unit trains per day of crude oil and condensate as well as
provide for up to 100,000 bpd of barge loading capacity. KW Express will
own 85 percent of the project and, together with Watco, construct and
operate the project once completed. Mercuria will own the remaining
15 percent interest of the project.
“This will be the first major crude by rail destination facility in the
Houston area with the ability to deliver into the largest refining
complex in the world,” said John Schlosser, Kinder Morgan Terminals
president. “It will provide U.S. and Canadian producers much needed
market access and optionality to deliver their crude oil production.”
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 46,000 miles of pipelines and 180
terminals. 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 $100 billion. It owns an interest in or operates
approximately 75,000 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. KMI
owns the general partner interest of KMP and El Paso Pipeline Partners,
L.P. (NYSE: EPB), along with limited partner interests in KMP, Kinder
Morgan Management, LLC (NYSE: KMR) and EPB. For more information please
visit www.kindermorgan.com.
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 forward-looking statements.
Source: Kinder Morgan Energy Partners, L.P.
Kinder Morgan Energy Partners, L.P.
Joe Hollier, (713) 369-9176
Media
Relations
joe_hollier@kindermorgan.com
or
Peter
Staples, (713) 369-9221
Investor Relations
peter_staples@kindermorgan.com
www.kindermorgan.com
