Kinder Morgan Energy Partners LP (NYSE: KMP) announced Nov. 1 that its New York Harbor terminals, which 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."
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.
KMI 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.
Combined, the Kinder Morgan companies have an enterprise value of approximately $100 billion.
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