Kinder Morgan will invest $74 million to extend pipeline capacity in the Eagle Ford Shale.
Pipeline giant Kinder Morgan Energy Partners LP (NYSE: KMP) will spend $74 million to extend a crude and condensate pipeline deeper into the Eagle Ford Shale.
KMP will build an 18-mile, 24-inch diameter lateral pipeline from its DeWitt Station to Gonzales County, company officials say. It also will develop a new Gonzales County station with 300,000 barrels of storage capacity, a pump and truck offloading facilities.
The extension will allow Houston-based KMP to move Eagle Ford crude and condensate from the new facility to the Houston Ship Channel and Phillips 66’s refinery in Brazoria County, officials also say.
Including previously announced joint ventures and projects, KMP’s planned Eagle Ford Shale investments total $900 million.
Earlier this week, KMP said phase one of the 185-acre Battleground Oil Specialty Terminal Company LLC project on the Houston Ship Channel began service. Phase two of the BOSTCO project is underway and expected to begin service in the fourth quarter of next year.
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Sanford Nowlin covers energy/utilities, transportation/aviation and manufacturing.
Source: http://feedproxy.google.com/~r/vertical_16/~3/6e8bvhKQhW8/kinder-morgan-to-spend-74m-on-new.html
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