Kinder Morgan buys terminals from Royal Vopak for $158 million

February 10, 2015 |

In Texas, Kinder Morgan 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, 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. The transaction, subject to customary approvals, is expected to close during the first quarter and will be immediately accretive to KMI earnings.

Category: Fuels

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