Kinder Morgan buy Vopak’s three terminals, one undeveloped site

Kinder Morgan to buy Vopak’s three terminals, one undeveloped site

5:24 AM, 11th February 2015
Kinder Morgan to buy Vopak’s three terminals, one undeveloped site

HOUSTON, US: Kinder Morgan, Inc (KMI) announced that it will purchase three terminals and one undeveloped site from Royal Vopak for approximately $158 million. The acquisition covers a 36-acre, 1,069,500-barrel storage complex at Galena Park, Texas, US that handles base oils, biodiesel and crude oil, immediately adjacent to Kinder Morgan’s Galena Park terminal complex; two Vopak terminals in North Carolina, one in North Wilmington that handles chemicals and black oil, and one in South Wilmington that is not currently operating; and an undeveloped site at Perth Amboy, New Jersey, with waterfront access that can be developed.

“After closing, this transaction will further solidify Kinder Morgan’s position as the largest independent terminal operator in North America. This highly strategic acquisition will increase Kinder Morgan’s liquids storage capacity by more than 2.2 million barrels and 115 tanks while adding critical dock capacity on the Houston Ship Channel and in Wilmington,” said John Schlosser, Terminals President, Kinder Morgan.

 

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