Kinder Morgan Energy Partners, L.P. (KMP) announced a terminal venture designed specifically to handle renewable fuels.
The company stated that the transaction includes KMP's acquisition of three unit train ethanol handling terminals in Linden, N.J., Baltimore, Md., and Dallas, Texas, from U.S. Development Group or USD, and the formation of a joint venture to coordinate access to these terminals.
The acquisition price for the terminals was approximately $195 million, including over $80 million in KMP equity issued to the seller, the company said.
Upon closing, the transaction is expected to be immediately accretive to cash distributable to KMP unitholders. Combined with other acquisitions and projects already completed or underway, KMP has invested approximately $500 million in the renewable fuels handling business.
The three unit train terminals acquired, together with KMP's existing ethanol terminal assets, will create a nationwide distribution network of ethanol handling facilities connected by rail, marine, truck and pipeline, the company said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.