Kinder Morgan has acquired a Texas petroleum coke terminal from bulk terminal developer TGS Development for $67 million, the company's press release said.
Kinder Morgan will provide ship loading, conveying and storage services in addition to operating the Port Arthur facility, under a 25-year contract. It also set aside $18.2 million for expansion program.
Kinder Morgan is the owner and operator of more than 37,000 miles of pipelines and 180 terminals in North America. The group includes Kinder Morgan, Inc., Kinder Morgan Energy Partners, L.P., and Kinder Morgan Management, LLC.