Kinder Morgan Energy Partners has acquired a newly constructed petroleum coke (petcoke) terminal in Port Arthur, Texas, from TGS Development Group for about $67m.
The facility handles petcoke from Total Petrochemicals USA’s recently expanded Port Arthur refinery.
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Kinder Morgan will operate the facility and provide conveying, storage and ship loading services to Total pursuant to a 25-year contract.
The refinery is expected to produce more than one million tonnes of petcoke per annum.
Kinder Morgan’s terminals segment president Jeff Armstrong said the firm expects to handle more than 13 million tonnes of petcoke in 2011.
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By GlobalData
