Kinder Morgan to Further Increase Storage Capacity at Edmonton Terminal

abarrelfullabarrelfull wrote on 28 Mar 2012 14:17
Tags: canada engineering kinder-morgan n-america storage

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Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced that Kinder Morgan Canada Terminals has entered into a long-term contract with a major Canadian producer to support the construction of an additional 1.2 million barrels of merchant storage capacity at Trans Mountain pipeline's Edmonton terminal in Strathcona County, Alberta. Kinder Morgan previously announced in November 2011 that it had signed definitive commercial agreements to support the construction of 2.4 million barrels of storage at the Edmonton facility. The total value of the current expansion now totals $284 million with all 3.6 million barrels of storage capacity expected to be in service by late 2013.

Bill Henderson, vice president of Kinder Morgan Canada Terminals, said, "This increase in storage capacity demonstrates the importance and flexibility of Trans Mountain's Edmonton storage hub, and the unparalleled upstream and downstream connectivity inherent in the location of the facility."

"The Edmonton hub will also play a very important staging role for crude oil in the Trans Mountain pipeline expansion proposal," said Ian Anderson, president of Kinder Morgan Canada, the operator of both Trans Mountain and the Edmonton terminal. Kinder Morgan is currently in active discussions with other companies for further expansion that will ultimately allow for over 6 million barrels of dedicated storage at the terminal.

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