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December 4, 2009

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GATX Corp. selling fuel pipeline serving Las Vegas

Monday, Dec. 4, 2000 | 11:10 a.m.

A major pipeline that transports gasoline, diesel and jet fuel to Las Vegas is being sold to the nation's largest fuel pipeline partnership for $1.15 billion.

GATX Corp., a Chicago-based financing and leasing company that focuses on large assets like railroad cars, locomotives and commercial aircraft, announced it is selling its U.S. pipeline and terminal businesses to Kinder Morgan Energy Partners LP, Houston.

The GATX holdings include the CALNEV Pipe Line Co., a 550-mile refined petroleum products pipeline system that extends from Colton, Calif., to Las Vegas.

The pipeline system transported an average 112,000 barrels of gasoline, diesel and jet fuel per day in 1999.

The CALNEV system connects to Kinder Morgan's Pacific operations pipeline system in Colton. That network of pipelines transports more than 1 million barrels of fuel per day to markets in Arizona, California, Nevada, New Mexico and Oregon.

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