HOUSTON--(BUSINESS WIRE)--Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced that
KMP’s Tennessee Gas Pipeline Company (TGP) successfully closed a binding
open season for its South System Flexibility Project for 500,000
dekatherms per day (Dth/d) of capacity. MexGas Supply, formerly known as
MGI Supply, the natural gas supply arm of Petróleos Mexicanos, has been
awarded 100 percent of the project capacity. Anticipated project capital
is $187 million, with service beginning as early as Jan. 1, 2015.
“We are pleased to award MexGas the South System Flexibility Project
capacity, which will provide more than 900 miles of north-to-south
transportation capacity on the TGP system from Tennessee to Texas and
expand Kinder Morgan’s transportation service to Mexico,” said East
Region Natural Gas Pipeline President Kimberly S. Watson. “Mexico is
increasing development of its energy infrastructure to meet the
country’s rapidly growing demand, and this project builds upon our
long-standing relationship with MexGas to provide additional natural gas
transportation to complement Mexico’s development plans.”
In addition, TGP initiated a binding open season Oct. 9 for its proposed
Lone Star expansion project, which includes an incremental 300,000 Dth/d
of firm transportation from Tennessee to South Texas for future
infrastructure projects. TGP has secured an unnamed foundation shipper
for this project and will announce the results and further details upon
the close of the open season, which is scheduled for Oct. 31, 2014. The
volumes committed are sufficient to justify building the project.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline
transportation and energy storage company and one of the largest
publicly traded pipeline limited partnerships in America. It owns an
interest in or operates approximately 52,000 miles of pipelines and
180 terminals. The general partner of KMP is owned by Kinder Morgan,
Inc. (NYSE: KMI). Kinder Morgan is the largest midstream and the third
largest energy company in North America with a combined enterprise value
of approximately $120 billion. It owns an interest in or operates
approximately 80,000 miles of pipelines and 180 terminals. Its pipelines
transport natural gas, gasoline, crude oil, CO2 and other
products, and its terminals store petroleum products and chemicals and
handle such products as ethanol, coal, petroleum coke and steel. KMI
owns the general partner interests of KMP and El Paso Pipeline Partners,
L.P. (NYSE: EPB), along with limited partner interests in KMP, Kinder
Morgan Management, LLC (NYSE: KMR) and EPB. 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.
