Kinder Morgan moves in on ethanol
US energy player Kinder Morgan Energy Partners (KMP) has agreed to an ethanol terminal joint venture, acquiring three terminals for just under $200 million (€141.2 million).
The $195 million deal with storage and distribution company U.S. Development Group will create a nationwide network of ethanol handling facilities connected by a number of transportation modes, providing access to major markets.
Kinder Morgan said it expects to handle more than 218,000 barrels of ethanol a day this year. The joint venture will coordinate access to the terminals and Kinder Morgan's other assets.
The $195 million deal with storage and distribution company U.S. Development Group will create a nationwide network of ethanol handling facilities connected by a number of transportation modes, providing access to major markets.
Kinder Morgan said it expects to handle more than 218,000 barrels of ethanol a day this year. The joint venture will coordinate access to the terminals and Kinder Morgan's other assets.
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