Projects Secure Long-term Committed Volumes; Plantation Pipe Line to File Petition for Declaratory Order
HOUSTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24KMI&src=ctag” target=”_blank”gt;$KMIlt;/agt; lt;a href=”https://twitter.com/hashtag/KinderMorgan?src=hash” target=”_blank”gt;#KinderMorganlt;/agt;–Kinder Morgan, Inc. (NYSE: KMI) today announced a successful open season on its Roanoke Expansion projects on the Plantation Pipe Line System. Following the open season, Plantation Pipe Line secured long-term committed volumes of 20,000 barrels per day (bpd). The Plantation Pipe Line Company’s investment in the project is approximately $49 million. In addition, Kinder Morgan Southeast Terminal’s (KMST) investment, fully backed by 10,000 bpd of long-term committed volumes, is approximately $9 million.
“We are pleased with the successful Plantation Pipe Line open season and the opportunity to invest expansion capital to serve the Roanoke area’s needs with reliable transportation and storage services in projects that meet our investment criteria,” said James Holland, president, Kinder Morgan Products Pipelines.
With the successful open season, Plantation Pipe Line will submit the Petition for Declaratory Order (PDO) to the Federal Energy Regulatory Commission (FERC) for approval of commercial terms for the project. Pending all regulatory approvals, the project is expected to be in full service by April 1, 2020.
The Plantation Pipe Line Roanoke Expansion will provide approximately 21,000 bpd of incremental refined petroleum products capacity on Plantation from the Baton Rouge, Louisiana, and Collins, Mississippi, origin points to the Roanoke, Virginia, area. The expansion will primarily consist of additional pump capacity and operational storage on the Plantation system.
The KMST expansion will provide approximately 10,000 bpd of incremental refined product throughput capacity at the terminals.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. We own an interest in or operate approximately 84,000 miles of pipelines and 152 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals transload and store liquid commodities including petroleum products, ethanol and chemicals, and bulk products, including petroleum coke, metals and ores. For more information please visit www.kindermorgan.com.