KINDER MORGAN, INC.

(KMI)
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Delayed Nyse  -  04:00 2022-06-24 pm EDT
16.48 USD   +1.48%
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Gulf Coast Express Pipeline Announces Open Season for Expansion Project

05/16/2022 | 04:08pm EDT

Increasing natural gas deliveries to the South Texas markets

Gulf Coast Express Pipeline LLC (GCX) today announced an open season to solicit commitments for an expansion project on its system. Upon achieving a final investment decision (FID), the project will increase GCX’s capacity by nearly 570 million cubic feet per day (MMcf/d).

The project will involve primarily compression expansions on the GCX system to increase natural gas deliveries from the Permian Basin to South Texas markets. Pending customer commitments, the target in-service date for the project is December 1, 2023.

The open season begins May 16, 2022, and ends June 6, 2022, at 5 p.m. Central Time, though GCX reserves the right to extend the open season as needed. Those interested in obtaining more detailed information about this open season can visit this page on the Kinder Morgan website or contact Enrique Valencia, Director of Business Development in Kinder Morgan’s Natural Gas group at 713.420.5017 or Enrique_Valencia@kindermorgan.com.

GCX is jointly owned by subsidiaries of Kinder Morgan, Inc. (NYSE: KMI), DCP Midstream, LP (NYSE: DCP), an affiliate of ArcLight Capital Partners, LLC, and Kinetik Holdings Inc. (NASDAQ: KNTK) with an ownership interest of 34%, 25%, 25% and 16% respectively. Kinder Morgan Texas Pipeline (KMTP) is the operator of GCX.

About Kinder Morgan, Inc.

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines, 141 terminals, and 700 billion cubic feet of working natural gas storage capacity. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.

About DCP Midstream, LP

DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.

About ArcLight Capital Partners, LLC

ArcLight Capital Partners, LLC (ArcLight) is one of North America’s leading energy infrastructure firms, helping pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $25 billion in 117 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists, as well as the firm's 1,500-person asset management affiliate. More information about ArcLight can be found at www.arclight.com.

About Kinetik Holdings Inc.

Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Houston and Midland, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and treating services for companies that produce natural gas, natural gas liquids, crude oil and water. Kinetik posts announcements, operational updates, investor information and press releases on its website, www.kinetik.com.


© Business Wire 2022
All news about KINDER MORGAN, INC.
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Financials (USD)
Sales 2022 15 714 M - -
Net income 2022 2 665 M - -
Net Debt 2022 30 546 M - -
P/E ratio 2022 14,3x
Yield 2022 6,74%
Capitalization 37 368 M 37 368 M -
EV / Sales 2022 4,32x
EV / Sales 2023 4,18x
Nbr of Employees 10 529
Free-Float 87,5%
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Steven J. Kean Chief Executive Officer & Director
Kimberly Allen Dang President & Director
David Patrick Michels Vice President-Finance
Richard D. Kinder Executive Chairman
Mark E. Huse Vice President-Business Systems
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