Kinder Morgan CEO, Rich Kinder, discusses growth potential at his companies. The company is now looking at new pipelines and Kinder was one of the first to expand its crude by rail capability. Kinder Morgan now has five crude to rail facilities and one of the larger terminals on the Houston Ship Channel (Galena Park). [Read more…]
Kinder Morgan announced on July 19, 2012, the company will provide long-term condensate processing services and storage at terminals located in the Houston Ship Channel. BP will lease 750,000 barrels of storage and has committed 40,000 barrels per day of condensate that will be split into its light and heavy napthas, as well as kerosene and gas oil.
To accommodate, Kinder Morgan will spend $75 million to add storage at its Galena Park Terminal. Five tanks that connect to the condensate facility, new pipes and pumps will will be part of the expansion. [Read more…]