Kinder Morgan Energy Partners, L.P. (NYSE: KMP) has entered into new and extended long-term transportation and storage agreements with Calpine Energy Services, L.P. (NYSE: CPN). Under the agreements, KMP will provide up to 450,000 dekatherms per day (dth/d) of firm transportation service as well as 5 billion cubic feet (bcf) of storage capacity to serve nine of Calpine’s electric generation facilities in Texas. The service level under these new agreements represents an increase of 150,000 dth/d of transport and one bcf of storage over agreements previously in place. KMP will invest approximately $30 million to expand its Texas intrastate pipeline system in South Texas to extend service to Calpine’s Magic Valley Generating Station in Hidalgo County.
Duane Kokinda, president of KMP’s Midstream Group said, “We are extremely pleased to extend our longstanding business relationship with Calpine and we look forward to adding a ninth Calpine plant to the list of electric generation facilities in Texas that we serve.”
“Ensuring the availability and reliability of natural gas supply is an important aspect of optimizing the value of Calpine’s clean, efficient and flexible power plants,” said Bob Hayes, Calpine’s vice president of Natural Gas Trading. “Expansion of our agreements with Kinder Morgan, a key business partner, will serve to support these efforts across most of our power plants in Texas.”
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 46,000 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 $100 billion. It owns an interest in or operates approximately 75,000 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 interest of KMP and El Paso Pipeline Partners, L.P. (NYSE: EPB), along with limited partner interests in KMP, and EPB and shares in Kinder Morgan Management, LLC (NYSE: KMR). 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.
Kinder Morgan Energy Partners, L.P.
Joe Hollier,Office: (713) 369-9176 or Cell: (713) 823-5419
Peter Staples, (713) 369-9221
|Kinder Morgan Energy Partners Increases Ownership Stake to 100 Percent in El Paso Natural Gas Pipeline and Midstream Assets (2013/3/1)|
|Kinder Morgan Energy Partners to Make Significant Investment in Chemical Industry (2013/4/1)|
|Copano Unitholders Approve Merger With Kinder Morgan Energy Partners (2013/4/30)|
|Kinder Morgan Energy Partners to Expand Capacity on Sweeny Lateral Pipeline (2013/5/2)|
|Kinder Morgan Energy Partners Completes Sale of One-Third Interest in Express-Platte Pipeline System (2013/3/14)|
|Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Copano Energy’s Proposed Acquisition by Kinder Morgan Energy Partners, L.P. (2013/1/30)|
|Acquisition of Copano Energy, L.L.C. by Kinder Morgan Energy Partners, L.P. May Not Be in Copano Energy, L.L.C. Shareholders' Best Interests (2013/1/30)|
|Kinder Morgan Energy Partners Increases Quarterly Distribution to $1.30 Per Unit (2013/4/17)|
|Kinder Morgan Energy Partners, Phillips 66 in Pipeline Expansion (2013/5/2)|
|The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Copano Energy in Connection with the Sale of the Company to Kinder Morgan Energy Partners, L.P. (2013/1/31)|
|Kinder Morgan Management LLC||View kmr Stock Quote|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Morningstar Investing Classroom Rewards (earn as you learn and redeem for Morningstar merchandise)|
|P||Morningstar Fund Analyst Reports (full research on 2,000 funds and ETFs)|
|P||Morningstar Stock Analyst Reports (full research on 2,000 stocks)|
|P||Morningstar Stock and Fund Stewardship Grades|
|P||Portfolio Manager (advanced with 10 x-ray analyses, including guidance)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.