Kinder Morgan Energy Partners LP (KMP) will acquire a newly constructed petroleum coke terminal from TGS Development Group for $67 million.

As one of the largest North American pipeline operators, Kinder Morgan has in recent months said it is seeking new expansion opportunities. The terminal, based in Port Arthur, Texas, currently handles the material for Total Petrochemicals USA. Kinder Morgan, also North America's largest petroleum coke handler, will operate the facility.

In April, Kinder Morgan reported its first-quarter profit rose 49.9% as overall costs decreased.

Shares of the company were at $72.95 in early trade. Year to date, the stock is up 3.9%.

-By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com