HOUSTON--(BUSINESS WIRE)--Dec. 2, 2008--Kinder Morgan Energy Partners, L.P. (NYSE:KMP) today announced it is now
transporting commercial batches of denatured ethanol along with gasoline
shipments in its 16-inch Central Florida Pipeline (CFPL) between Tampa
and Orlando, Fla., making CFPL the first transmarket gasoline pipeline
in the United States to do so. Kinder Morgan has invested approximately
$10 million to modify the line for ethanol shipments which involved
chemically cleaning the pipeline, replacing pipeline equipment that was
incompatible with ethanol and expanding storage capacity at its Orlando
terminal to handle ethanol shipments.
"We are excited about the commercial opportunities presented by the
successful efforts in modifying Central Florida Pipeline and are
assessing our other pipeline assets that may be similarly modified to
meet expanding customer needs for biofuels," said KMP Products President
Tom Bannigan. "We expect the CFPL expansion to be immediately accretive
to cash available for distribution to KMP unitholders."
In addition to the CFPL ethanol project, Kinder Morgan's Products
Pipeline segment has approved over $90 million in ethanol and biofuel
projects including modifications to tanks, truck racks and related
infrastructure for new or expanded ethanol and biodiesel service at
various terminals in the Southeast and Pacific Northwest. Kinder Morgan
offers offloading, storage and blending of ethanol at its terminals in
Florida, Georgia, South Carolina, North Carolina, Virginia,
Pennsylvania, New York, Illinois, Tennessee, Mississippi, Louisiana,
Texas, California, Nevada, Arizona, Washington and Oregon.
Kinder Morgan Energy Partners, L.P. (NYSE:KMP) is a leading pipeline
transportation and energy storage company in North America. KMP owns an
interest in or operates more than 25,000 miles of pipelines and
165 terminals. Its pipelines transport natural gas, gasoline, crude oil,
CO2 and other products, and its terminals store petroleum
products and chemicals and handle bulk materials like coal and petroleum
coke. KMP is also the leading provider of CO2 for enhanced
oil recovery projects in North America. One of the largest publicly
traded pipeline limited partnerships in America, KMP has an enterprise
value of over $20 billion. The general partner of KMP is owned by Knight
Inc. (formerly Kinder Morgan, Inc.), a private company.
This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Although Kinder Morgan believes
that its expectations 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 are enumerated in Kinder Morgan's Form
10-K and 10-Q as filed with the Securities and Exchange Commission.
CONTACT: Kinder Morgan Energy Partners, L.P.
Emily Mir Thompson, 713-369-8060
Mindy Mills, 713-369-9449
Source: Kinder Morgan Energy Partners, L.P.