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Peabody Energy Corp. In Pact With Kinder Morgan Energy Partners To Secure Gulf Coast Exports-DJ


Tuesday, 17 Jul 2012 08:53am EDT 

Dow Jones reported that Peabody Energy Corp. has entered an agreement with Kinder Morgan Energy Partners to expand the Gulf Coast coal-export platform for Peabody's Colorado, Powder River Basin and Illinois Basin coal products. The deal gives Peabody more access to export coal at Kinder Morgan's Deepwater Terminal and Houston Bulk Terminal and its International Marine Terminal. To access the Houston terminals, Peabody formed an agreement with Union Pacific Corp.'s (UNP) railroad. The additional access could increase Peabody's export capacity in the Gulf Coast by roughly five million to seven million tons of coal a year starting in 2014 and ending in 2020. Further flexibility comes with the agreement and allows Peabody to increase its service to its international customer base as it supports Kinder Morgan's Gulf Coast coal handling facilities. 

Company Quote

77.69
-0.63 -0.80%
17 Apr 2014