Kinder Morgan Targets Gulf Coast, Tennessee Gas Lines for Growth
Kinder Morgan Targets Gulf Coast, Tennessee Gas Lines for Growth
Attachment: Kinder Morgan 2Q24
April 19, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas), which handles about 40% of U.S. natural gas throughput, expects the rising demand for liquefied natural gas (LNG) and data-driven technology, such as AI, will result in enormous growth in the natural gas midstream sector in the coming years. The company is developing and overhauling systems in some of the nation's biggest energy hotspots, including the Gulf Coast.
Industrial Info is tracking more than $12 billion in active and planned projects from Kinder Morgan. In a quarterly earnings-related conference call earlier this week, Executive Chairman Rich Kinder said U.S. utilities are forecasting heavy growth in electricity demand in the coming years, with at least one utility in the Southeastern U.S. expecting winter demand to increase 37% by 2031. The Southeast is home to more than $8.6 billion worth of the Kinder Morgan projects tracked by Industrial Info, including a proposed expansion of the Tennessee Gas Pipeline system.
Other companies featured: Tennessee Valley Authority, Microsoft Corporation (NASDAQ:MSFT) and Meta Platforms Incorporated (NASDAQ:META).
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