Kinder Morgan, Inc is buying three terminals and one undeveloped site from Royal Vopak for approximately US$158 million.
The acquisition includes a 36 acre storage complex of almost 1.3 million barrels capacity at Galena Park, TX, which handles base oils, biodiesel and crude oil. The site is immediately adjacent to Kinder Morgan’s Galena Park complex.
In addition, KMI is buying two Vopak terminals in North Carolina, one in North Wilmington which handles chemicals and black oil, and one in South Wilmington that is not currently operating; plus an undeveloped site at Perth Amboy, New Jersey, with waterfront access that can be developed.
“After closing, this transaction will further solidify Kinder Morgan’s position as the largest independent terminal operator in North America,” said John Schlosser, Kinder Morgan Terminals president. “This highly strategic acquisition will increase our liquids storage capacity by more than 2.2 million barrels and 115 tanks while adding critical dock capacity on the Houston Ship Channel and in Wilmington,” Schlosser said.