July 17 Peabody Energy Corp, the largest
U.S. coal miner, said it signed a deal for increased access to
export facilities owned by Kinder Morgan Energy Partners
, in a move that will raise its Gulf Coast export
Kinder Morgan is investing about $400 million to expand its
Gulf Coast terminal network. It signed a long-term throughput
deal with Arch Coal in January as part of the expansion.
The deal, which will give Peabody access to multiple
terminals, will expand the company's Gulf Coast coal export
capacity to a range of 5 million to 7 million tons per year
between 2014 and 2020.
"Peabody is securing a large-volume, sustainable U.S. export
platform to meet growing global seaborne coal demand," said
Peabody Chief Executive Officer Gregory Boyce.
Peabody shares rose 10 cents before the bell. They closed at
$22.50 on Monday on the New York Stock Exchange.