Kinder Morgan Partners to expand Edmonton Crude Oil rail terminal

|About: Kinder Morgan Energy Partne... (KMP)|By:, SA News Editor

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.