Kinder Morgan Announces Extension for Utica Marcellus Texas Pipeline Binding Open Season
Kinder Morgan, Inc. (NYSE: KMI) today announced it will extend its
current binding open season to review shipper comments and interest
received to date, as well as continue to seek commitments for the
proposed Utica Marcellus Texas Pipeline (UMTP) project, which would
transport natural gas liquids and condensate produced from the Utica and
Marcellus basins to delivery points along the Texas Gulf Coast,
including connectivity to a Kinder Morgan dock located along the Houston
Ship Channel. The binding open season scheduled to end today will now
end at 5 p.m. Central Time on Dec. 15, 2015.
“We continue to receive strong interest from shippers for this
opportunity to transport products from the Utica and Marcellus basins to
the Gulf Coast,” said Don Lindley, president of KMI’s Natural Gas
Liquids (NGL), Products Pipelines. “This extension allows Kinder Morgan
to align our transportation solution with shipper interests based on the
feedback we’ve received on the project.”
The proposed project would involve the abandonment and conversion of 964
miles of natural gas service on KMI’s existing Tennessee Gas Pipeline,
the construction of approximately 200 miles of new pipeline from
Louisiana to Texas, new storage in Ohio and 120 miles of new laterals to
provide basin connectivity.
The approximately $4 billion UMTP project will be designed to transport
propane, butanes, natural gasoline, y-grade and condensate in batches
along the system, with a maximum design capacity of 430,000 barrels per
day. Subject to shipper commitments and timely regulatory approvals, the
pipeline will be in service by the fourth quarter of 2018.
Prospective shippers may contact Mike Sims, director of NGL Business
Development, via email at firstname.lastname@example.org
or via phone at (713) 420-4731. More information is available on the
UMTP web page at www.kindermorgan.com/pages/projects/umtp.
Kinder Morgan, Inc. (NYSE: KMI) is the largest energy infrastructure
company in North America. It owns an interest in or operates
approximately 84,000 miles of pipelines and 165 terminals. The company’s
pipelines transport natural gas, gasoline, crude oil, CO2 and
other products, and its terminals store petroleum products and
chemicals, and handle bulk materials like coal and petroleum coke.
Kinder Morgan is the largest midstream and third largest energy company
in North America with an enterprise value of approximately $115 billion.
For more information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These
forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan
believes that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that such assumptions will
materialize. Important factors that could cause actual results to
differ materially from those in the forward-looking statements herein
include those enumerated in Kinder Morgan’s reports filed with the
Securities and Exchange Commission. Forward-looking statements
speak only as of the date they were made, and except to the extent
required by law, Kinder Morgan undertakes no obligation to update or
review any forward-looking statement because of new information, future
events or other factors. Because of these uncertainties, readers
should not place undue reliance on these forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150915005427/en/
Copyright Business Wire 2015
Source: Business Wire
(September 15, 2015 - 10:00 AM EDT)
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