Kinder Morgan to acquire five Shell terminals

Kinder Morgan Energy Partners LP, Houston TX, plans to purchase five refined petroleum products terminals in the western United States from Shell Products US for $20 million.

The facilities feature automated truck-loading equipment and offer a variety of blending services.

Following the closing, KMP plans to invest an additional $8 million in the facilities.

The terminals, located in Colton and Mission Valley CA, Phoenix and Tucson AZ, and Reno NV, have a combined 28 tanks with storage capacity of approximately 700,000 barrels for gasoline, diesel and jet fuel.

In addition, Shell has entered into a long-term contract to store products in the terminals. The transaction is expected to be completed in the fourth quarter of 2003.

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