Kinder Morgan Energy
Partners, L.P. announced it has entered into an agreement
to purchase and operate Vancouver Wharves, a bulk marine terminal, from
British Columbia Railway Company, a crown corporation owned by the Province
of British Columbia. The Vancouver Wharves facility
, located at the
entrance to the Port of Vancouver
, consists of five vessel berths situated
on a 139-acre site. The terminal assets include significant rail
infrastructure, dry bulk and liquid storage, and material handling systems
which allow the terminal to handle over 3.5 million tons of cargo annually.
Vancouver Wharves also has access to three major rail carriers connecting
to shippers in western and central Canada, and the U.S. Pacific Northwest.
The transaction is expected to close in the second quarter of 2007.