Kinder Morgan Preparing to Resume Service at New York Harbor Terminals
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced its New York Harbor terminals that were shut down due to Hurricane Sandy and remain without electric power, are expected to be ready to begin inbound and outbound petroleum product movements at Carteret, N.J., Perth Amboy, N.J., and Staten Island, N.Y., within the next 24 to 48 hours. Kinder Morgan's Mid Atlantic terminals are operational and are moving and receiving products.
“Like others, we experienced flooding, damage and a loss of electricity at our Northeast facilities,” KMP Terminals President Jeff Armstrong said. “Thanks to our pre-storm preparations, and extremely dedicated employees working around the clock following the storm, we have made significant progress in assessing these terminals and preparing to resume service. We will be able to resume operations even if power has not been restored, as we have brought in power generation resources from our operations elsewhere. Additionally, we are working closely with government agencies to restart operations as soon as possible.”
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline transportation and energy storage company and one of the largest publicly traded pipeline limited partnerships in America. It owns an interest in or operates approximately 53,000 miles of pipelines and 180 terminals. The general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $100 billion. It owns an interest in or operates approximately 75,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interest of KMP and El Paso Pipeline Partners, L.P. (NYSE: EPB), along with limited partner interests in KMP and EPB and shares in Kinder Morgan Management, LLC (NYSE: KMR). For more information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Kinder Morgan believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include those enumerated in Kinder Morgan's reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, Kinder Morgan undertakes no obligation to update or review any forward-looking statement because of new information, future events or other factors. Because of these uncertainties, readers should not place undue reliance on these forward-looking statements.