HOUSTON–(BUSINESS WIRE)–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 [email protected] 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.