Kinder Morgan, Inc. recently finalized its plan to acquire 15 refined products terminals from BP Products North America Inc., in a transaction valued at approximately USD $350 million. The terminals are key distribution facilities for major refined products consuming markets and have approximately 9.5 million barrels of storage and associated infrastructure in the United States.
Kinder Morgan and BP Products North America have also formed a joint venture limited liability company (JV) terminal business to own 14 of the acquired assets, which Kinder Morgan will operate and market on the JV’s behalf. The fifteenth terminal will be owned and operated solely by Kinder Morgan.
The terminals are located in the Midwest, Northeast, Southeast and on the West Coast at: Rochelle, O’Hare, Chicago and Wood River in Illinois; Dayton and Cincinnati, Ohio; Brooklyn, New York; Carteret, New Jersey; Curtis Bay, Maryland; Port Everglades, Florida; Atlanta and Doraville, Georgia; Indianapolis, Indiana; Spring Valley, Minnesota; and Richmond, California.