Tennessee Gas Pipeline Announces Final Investment Decision on Mississippi Crossing Project
December 19 2024 - 1:11PM
Business Wire
Project designed to transport up to 1.5
Bcf/d of natural gas benefiting Southeast U.S. markets
Tennessee Gas Pipeline, L.L.C. (TGP), a subsidiary of Kinder
Morgan, Inc. (NYSE: KMI), today announced its decision to proceed
with its Mississippi Crossing Project (MSX Project) after securing
long-term, binding transportation agreements with customers for all
the capacity.
“This transformative project will benefit the Southeast region
as it will provide incremental access to diverse sources of
supply,” said Natural Gas Pipelines President Sital Mody. “The
additional supply will help satisfy growing energy demand and lower
energy costs, allowing power generators and other energy suppliers
in the region to attract new residential, commercial and industrial
opportunities. We are in final discussions with customers for up to
an additional 0.4 Bcf/d of long-term commitments, which would
require additional capital for incremental horsepower.”
The approximately $1.4 billion MSX Project is designed to
transport up to 1.5 Bcf/d of natural gas and primarily involves the
construction of nearly 206 miles of 42-inch and 36-inch pipeline
and two new compressor stations. The project will originate near
Greenville, Mississippi, and conclude near Butler, Alabama, with
connections to the existing TGP system and third-party pipelines to
provide critical supply access sourced from multiple supply basins.
Pending the receipt of all required permits and clearances, the
project is expected to be placed in service November 2028.
“The fundamentals in the natural gas market are robust, with
significant growth expected over the next five years from LNG
exports, exports to Mexico and power generation,” said KMI CEO Kim
Dang. “With today’s announcement, KMI has sanctioned approximately
$3.1 billion (KMI share) in expansion capital between the SNG South
System 4 Expansion and TGP’s Mississippi Crossing Project. We
expect to announce additional projects in the coming months.”
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 79,000 miles of pipelines, 139 terminals, 702
billion cubic feet of working natural gas storage capacity and have
renewable natural gas generation capacity of approximately 6.1 Bcf
per year with an additional 0.8 Bcf in development. Our pipelines
transport natural gas, refined petroleum products, crude oil,
condensate, CO2, renewable fuels and other products, and our
terminals store and handle various commodities including gasoline,
diesel fuel, jet fuel, chemicals, metals, petroleum coke, and
ethanol and other renewable fuels and feedstocks. Learn more about
our work advancing energy solutions on the lower carbon initiatives
page at www.kindermorgan.com.
Important Information Relating to
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 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 in this news release include
express or implied statements pertaining to energy demand,
associated natural gas demand and the completion, timing and
benefits of the MSX Project. 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 KMI believes that these forward-looking
statements are based on reasonable assumptions, it can give no
assurance as to when or if any such forward-looking statements will
materialize nor their ultimate impact on our operations or
financial condition. Important factors that could cause actual
results to differ materially from those expressed in or implied by
these forward-looking statements include: the timing and extent of
changes in the supply of and demand for the products we transport
and handle; commodity prices; regulatory and policy changes; delays
or cost overruns affecting expansion projects; and the other risks
and uncertainties described in KMI’s reports filed with the
Securities and Exchange Commission (SEC), including its Annual
Report on Form 10-K for the year-ended December 31, 2023 (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.
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Katherine Hill Media Relations newsroom@kindermorgan.com
Investor Relations (800) 348-7320
km_ir@kindermorgan.com www.kindermorgan.com
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