Kinder Morgan agrees to acquire STX Midstream for $1.8Bln to boost pipelines holdings and capacity in Texas
Kinder Morgan Inc. (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure operator and developer, said it agreed to acquire STX Midstream, the South Texas unit of NextEra Energy Partners, for $1.815 billion.
US LNG feed gas provider Kinder Morgan posts lower profits but new CEO Kim Dang says future is bright
Kinder Morgan Inc. (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure developer, reported lower third-quarter earnings and cash flow, though the new Chief Executive Kim Dang forecast a “bright’ future for the company.
Pipeline giant Kinder Morgan reports higher profits and cash flow from Gulf Coast system and LNG feed gas
Kinder Morgan Inc. (KMI) the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure developer, increased first-quarter net income and cash flow with more natural gas from the US Gulf Coast shale-gas basins.
The company reported first-quarter net income attributable to KMI of $679 million compared with $667M in the first three months of 2022.
Cash flow for the quarter from operations amounted to $1.33 billion versus $1.08Bln in the prior-year quarter.
“Our natural gas pipeline network is composed of some 70,000 miles of interstate and intrastate pipelines that move about 40 percent of US natural gas production, along with 700 billion cubic feet of natural gas storage, comprising 15 percent of total US natural gas storage capacity,” explained Steve Kean, KMI Chief Executive.
“While the US Congress debates much-needed infrastructure permitting reform, the system we operate under today makes it difficult to permit new natural gas pipelines in much of the country,” Kean stated.
Value added
“That in turn increases the value of our existing natural gas pipeline systems, which results in a favorable recontracting environment,” the CEO added.
“With a large portion of our existing natural gas pipeline network in Texas and Louisiana, we also benefit from our ability to expand to meet growing demand in the most infrastructure-friendly region of the country,” Kean said.
KMI said it was continuing to execute expansions of its existing natural gas pipeline systems.
“During the first quarter we made good progress on two such expansions. One will add approximately 550 million cubic feet per day of capacity to the Permian Highway Pipeline (PHP) system through additional compression with minimal new pipeline build,” said KMI.
“The other will increase capacity and reliability of services to Con Edison, a key business partner, by upgrading and adding compression facilities on the Tennessee Gas Pipeline (TGP) system in a critical region of the country,” the company added.
Gas gathering
KMI President Kim Dang gave an overview and praised the gas gathering systems for keeping the natural gas business on track.
“The Natural Gas Pipelines business segment’s financial performance was up in the first quarter of 2023 relative to the first quarter of 2022, primarily on higher contributions from our Texas Intrastate system, from Midcontinent Express Pipeline, from El Paso Natural Gas (EPNG) and from most of our gathering system assets,” explained Dang.
“Natural gas transport volumes were up 3 percent compared to the first quarter of 2022, primarily from increases on EPNG due to returning a pipeline to service, cooler weather, and the retirement of a coal-fired power plant,” she added.
“Natural gas gathering volumes were up 18 percent from the first quarter of 2022 primarily from our Haynesville and Eagle Ford systems,” Dang said.
Pipeline giant Kinder Morgan reports healthy profits and explains some expansion plans for US LNG projects
Kinder Morgan Inc., the US pipeline giant transporting natural gas to LNG plants and to customers around America, said it now provided 50 percent of the feed-gas used by US LNG export plants and was planning more pipeline expansions to serve liquefaction facilities.
Kinder Morgan reports good start to 2022 on deliveries to LNG customers and from new Northeast assets
Kinder Morgan Inc., the US pipeline giant transporting natural gas to LNG plants and to customers around America, reported a boost in demand from liquefaction plants and outlined progress on more Permian Basin natural gas for the Gulf Coast and on a greener gas supply plan.
Kinder Morgan plans ‘certified greener’ scheme on Tennessee Gas Pipeline to LNG plants and other users
Kinder Morgan Inc., the US pipelines and terminals company, said its Tennessee Gas Pipeline (TGP) has filed with US regulators to give over part of its supply to “responsibly sourced natural gas (RSG)” that will carry a “green” certificate.
