Risk.net

Kinder Morgan to buy more refined products terminals

Kinder Morgan will fully own seven and jointly own two of the facilities, which will generate fee-based income for the company’s products pipelines business. The Houston-based company has now announced $320 million in acquisitions in 2004.

Kinder Morgan said it plans to invest a further $2 million over the next two years to upgrade the terminals, which are located in North Carolina, South Carolina, Virginia and Georgia.

Including this deal, the company has invested $145 million to buy 23 refi