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Kinder Morgan Announces Extension Of Palmetto Project Open Season

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Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced an extension of the binding open season to solicit commitments for the proposed Palmetto Project, which offers shippers a new refined products service to move gasoline, diesel and ethanol from Louisiana, Mississippi and South Carolina to points in South Carolina, Georgia and Florida. The binding open season, which originally ended Sept. 30, 2014, has been extended to Oct. 30, 2014, at 5 p.m. Central Time.

“We're pleased to see the high level of support from interested shippers during our open season,” said Ron McClain, president of Products Pipelines for KMP. “The project remains on track for an in-service date of July 2017, pending a successful extended open season and regulatory approvals. We expect that extending the open season will enable us to obtain sufficient commitments to proceed with the project.”

As previously announced, the approximately $1 billion Palmetto Project would provide pipeline shippers looking to move refined petroleum products from the Gulf Coast with access to new markets in the Southeast. The project has a design capacity of 167,000 barrels per day and would consist of a segment of expansion capacity that Palmetto would lease from Plantation Pipe Line Company between Baton Rouge, Louisiana, and Belton, South Carolina. A new 360-mile pipeline from Belton, South Carolina, to Jacksonville, Florida, would also be constructed as part of the project.

Signed transportation service agreements by prospective shippers must be submitted on or before the revised end date to Meredith West at meredith_west@kindermorgan.com. A new open season notice and the project map are available online at www.kindermorgan.com/business/products_pipelines/palmetto/.

 

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