Kinder Morgan Energy Partners LP said it will begin exporting Colorado coal through its bulk terminal in the Houston ship channel.
According to its first quarter earnings report, the company has entered into an agreement with a large western coal producer and will invest about USD 18 million to expand the ship channel facility.
Kinder said that it will be the first time Western coal will be exported from the Port of Houston.
In its earnings report, Kinder said its profit rose 50% in the first quarter of 2010 to USD 337 million, compared to USD 225 million in the same period last year. Quarterly cash distribution rose 7% to USD 1.14 per unit.
In February, Kinder Morgan inked a deal with Richmond, Va.-based Massey Coal Export Co. to export up to 6 million tons of coal annually through Kinder’s Myrtle Grove, La., facility.
According to its first quarter earnings report, the company has entered into an agreement with a large western coal producer and will invest about USD 18 million to expand the ship channel facility.
Kinder said that it will be the first time Western coal will be exported from the Port of Houston.
In its earnings report, Kinder said its profit rose 50% in the first quarter of 2010 to USD 337 million, compared to USD 225 million in the same period last year. Quarterly cash distribution rose 7% to USD 1.14 per unit.
In February, Kinder Morgan inked a deal with Richmond, Va.-based Massey Coal Export Co. to export up to 6 million tons of coal annually through Kinder’s Myrtle Grove, La., facility.
(sourced from BizJournals)
Posts
No comments:
Post a Comment