Kinder Morgan increases 2024 forecast
US pipeline company Kinder Morgan is expecting an increase in gross earnings, particularly from its natural gas pipelines division. “We anticipate generating net income attributable to KMI per share of $1.21, up 11 percent, compared to our year-end 2023 forecast of $1.09 per share,” said KMI President Tom Martin. Kinder Morgan in November agreed to pay $1.81 billion for acquiring STX Midstream whose gas pipelines connect the Eagle Ford shale basin to the Gulf Coast to serve growing feedgas demand from liquefaction terminals and facilitate onward pipeline gas exports to Mexico.
Updated spending for Cedar LNG project
Canadian midstream firm Pembina Pipeline has disclosed updated spending plans and an FID date for the planned Cedar LNG project in British Columbia. “The 2024 capital investment program of C$880 million reflects growing volumes and Pembina’s commitment to providing safe, reliable, flexible and cost-effective energy infrastructure solutions,” said the Calgary-based company. Related projects could add up to C$280 million, inclusive of pre-FID contributions with financial close now expected by the end of the first quarter 2024.