The Wall Street Journal MarketWatch reported Peabody Energy Corp. and Kinder Morgan Energy Partners L.P. embarked on an export deal which expands Peabody’s Colorado, Powder River Basin and Illinois Basin coal products platform on the Gulf Coast.
As quoted in the press release:
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 railroad.
Kinder Morgan Terminals president, Jeff Armstrong, commented:
Export-coal demand continues to grow around the country and Kinder Morgan is well positioned with our network of terminals to serve our customers’ needs in multiple locations.