December 19, 2011 [OPIS] - Kinder Morgan and Motiva have reached an agreement whereby Kinder Morgan will purchase Motiva's 472,000 bbl products terminal in Northern Virginia, sources tell OPIS.
An announcement has yet to be made, but the two parties will probably announce an end-2011 or early 2012 closing on the facility.
The Springfield terminal, located in Lorton, Virginia, was put up for sale last winter along with terminals in Brooklyn, New York; and Bridgeport, Connecticut. There is no word on whether any buyers are close to purchasing those facilities.
The Springfield terminal is a good fit for Kinder Morgan since it holds the controlling interest in the Plantation Pipe Line, a 3,100-mile refined products system that serves the southeastern U.S.
