- Kinder Morgan Partners (KMP, KMI) announces plans to expand the Edmonton crude oil rail terminal now under construction, increasing capacity at start-up in Q1 2015 to more than 210K bbl/day and potentially up to 250K bbl/day.
- KMP says its 50-50 joint venture with Imperial Oil (NYSEMKT:IMO) has entered into additional firm take or pay agreements with oil company majors sufficient to allow the expansion project to move forward.
- The expansion will more than double the capacity of the rail-loading terminal for crude oil KMP/KMI is building in Canada's oil sands.
- Including the addition of the expanded capacity, KMP says its investment in the project now totals ~$232M.
at Zacks.com (Nov 25, 2014)