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Kinder Morgan Energy Partners
KMP today announced it will invest
approximately $107 million to expand its Kinder Morgan Crude and Condensate
pipeline system (KMCC) deeper into the Eagle Ford Shale play in Karnes County,
Texas. The expansion, supported by a long-term contract with ConocoPhillips
COP, will extend the 178-mile pipeline 31 miles from the KMCC DeWitt
Station in DeWitt County, Texas, to ConocoPhillips' Central Delivery Facility
near Helena in Karnes County. Kinder Morgan will also build receipt tanks and
a truck unloading facility adjacent to ConocoPhillips' Helena Central Delivery
Facility. Kinder Morgan expects to begin construction on the project in July
of this year.
“We're pleased we can expand our KMCC pipeline to provide additional
flexibility to our customers seeking to move Karnes County crude and
condensate to Houston-area markets,” said KMP Products Pipelines President Ron
McClain. “This expansion further assists our commitment to deliver up to
300,000 barrels per day of crude and condensate from the Eagle Ford Shale.”
The transaction is expected to be immediately accretive to cash distributable
to KMP unitholders upon the project's completion in the third quarter of 2014.
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