LNG

Kinder Morgan Inc. (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure operator and developer, posted solid first-quarter earnings and forecast a surge through 2030 of LNG exports and pipeline gas deliveries to Mexico.

Kinder Morgan Inc. (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure operator and developer, reported an almost 10 percent rise in first-quarter net income with contributions from all business segments while forecasting soaring LNG and pipeline gas exports through 2030.

Kinder Morgan Inc. (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure operator and developer, reported solid earnings and revenues for the fourth quarter and full year as pipeline projects and expansions advanced.

Kinder Morgan Inc. (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure operator and developer, has issued increased financial forecasts for 2024.

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.

Kinder Morgan Inc. (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure developer, reported lower second-quarter net profits amid steady cash flow as it responded to volatile market conditions.

The company said profits declined to $586 million during the three months to the end of June from $635M in the second quarter of 2022.

“The KMI board and management team are fully committed to the use of our strong cash flow to benefit our shareholders,” said Executive Chairman Richard D. Kinder.

“We focus on maintaining a strong balance sheet while internally funding capital projects that produce returns well in excess of our cost of capital - including projects that are part of the ongoing energy evolution,” the Chairman stated,

KMI’s distributable cash flow amounted to $1.07 billion compared with $1.17Bln in the prior-year quarter.

Asset values

“KMI once again saw the value of its existing natural gas transportation and storage assets that are able to respond to volatile market conditions caused by extreme weather events and an increasingly intermittent resource-based electric grid,” said Chief Executive Steve Kean.

“Our 700 billion cubic feet of operated natural gas storage capacity is particularly useful in back-stopping intermittent renewable electricity resources,” Kean explained.

“Financial contributions from the Natural Gas Pipeline business segment were up relative to the second quarter of 2022 and ahead of budget,” added the CEO.

“Our Terminals business segment also over-performed relative to both the second quarter of 2022 and budget,” stated Kean.

KMI President Kim Dang said that the performance of the Natural Gas Pipelines business improved in the second quarter of 2023 versus the prior-year quarter.

Dang cited higher contributions from Midcontinent Express Pipeline, the Texas Intrastate system, El Paso Natural Gas (EPNG), the Stagecoach asset and the Tennessee Gas Pipeline (TGP), partially offset by lower contributions from the company's Eagle Ford gathering system assets.

Natural gas transport volumes were up 5 percent year-over-year, primarily from increases on EPNG due to returning a pipeline to service and the retirement of a coal-fired power plant.

Texas Intrastate

KMI said that the Texas Intrastate system benefited from a variety of existing shippers and new contracts, partially offset by reduced volumes on the Tennessee Gas Pipeline.

“Natural gas gathering volumes were up 19 percent from the second quarter of 2022 across most of our systems,” Dang explained. 

Among several new projects, KMI said that the two-phase $678M Evangeline Pass venture will include modifications and enhancements to portions of the TGP and Southern Natural Gas systems in Mississippi and Louisiana, enabling the delivery of the full FERC-certificated project volumes to Venture Global’s proposed Plaquemines LNG facility.

“Construction activities are underway for phase 1 of the project, which includes general operational upgrades enabling TGP to provide approximately 900 million cubic feet per day of natural gas transportation capacity to Venture Global’s facility,” said KMI.

Dang added that contributions from the Products Pipelines business segment were down compared with the second quarter of 2022, saying this was largely due to the impact in the prior-year period of sharply rising commodity prices.

“The crude and condensate business was also impacted by lower re-contracting rates in the Eagle Ford. Total refined products volumes were relatively flat compared to the second quarter of 2022,” Dang said.

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.

Kinder Morgan Inc. (KMI) the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure developer, reported an increase in fourth-quarter net income and planned to expand its network to meet soaring LNG feed-gas demand.

Kinder Morgan Inc (KMI), the leading US pipeline feed-gas company for liquefied natural gas plants and a key energy infrastructure developer, reported third-quarter net income of $576 million, up from $495M in the prior-year quarter, as the executive team forecast a continuing and deepening LNG boom on the Gulf Coast.

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.