HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) today announced a successful open season
on its Roanoke Expansion projects on the Plantation Pipe Line System.
Following the open season, Plantation Pipe Line secured long-term
committed volumes of 20,000 barrels per day (bpd). The Plantation Pipe
Line Company’s investment in the project is approximately $49 million.
In addition, Kinder Morgan Southeast Terminal’s (KMST) investment, fully
backed by 10,000 bpd of long-term committed volumes, is approximately $9
million.
“We are pleased with the successful Plantation Pipe Line open season and
the opportunity to invest expansion capital to serve the Roanoke area’s
needs with reliable transportation and storage services in projects that
meet our investment criteria,” said James Holland, president, Kinder
Morgan Products Pipelines.
With the successful open season, Plantation Pipe Line will submit the
Petition for Declaratory Order (PDO) to the Federal Energy Regulatory
Commission (FERC) for approval of commercial terms for the project.
Pending all regulatory approvals, the project is expected to be in full
service by April 1, 2020.
The Plantation Pipe Line Roanoke Expansion will provide approximately
21,000 bpd of incremental refined petroleum products capacity on
Plantation from the Baton Rouge, Louisiana, and Collins, Mississippi,
origin points to the Roanoke, Virginia, area. The expansion will
primarily consist of additional pump capacity and operational storage on
the Plantation system.
The KMST expansion will provide approximately 10,000 bpd of incremental
refined product throughput capacity at the terminals.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. We own an interest in or
operate approximately 84,000 miles of pipelines and 152 terminals. Our
pipelines transport natural gas, refined petroleum products, crude oil,
condensate, CO2 and other products, and our terminals
transload and store liquid commodities including petroleum products,
ethanol and chemicals, and bulk products, including petroleum coke,
metals and ores. For more information please visit www.kindermorgan.com.
Important Information Relating to Kinder
Morgan’s Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally the
words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature.
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 any such forward-looking
statements will materialize. Important factors that could cause actual
results to differ materially from those expressed in or implied from
these forward-looking statements include the risks and uncertainties
described in Kinder Morgan’s reports filed with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
year-ended December 31, 2017 (under the headings “Risk Factors” and
“Information Regarding Forward-Looking Statements” and elsewhere) and
its subsequent reports, which are available through the SEC’s EDGAR
system at
www.sec.gov
and on our website at
ir.kindermorgan.com
.
Forward-looking statements speak only as of the date they were made, and
except to the extent required by law, KMI undertakes no obligation to
update any forward-looking statement because of new information, future
events or other factors. Because of these risks and uncertainties,
readers should not place undue reliance on these forward-looking
statements.