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Forgoing Canadian Asset, Kinder Morgan Expands U.S. Midstream Natural Gas Footprint
Industry Segment: Pipelines | Word Count: 1055 Words
SUGAR LAND--October 18, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream operator Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) has plans afoot. In the just-passed third quarter, the company announced that it would be selling its 70% interest in Canadian branch Kinder Morgan Limited (KML) (TSX:KML) (Calgary, Alberta) as well as the U.S. portion of the Cochin multi-product pipeline system to Pembina Pipeline Corporation (NYSE:PBA) (Calgary) for more than $1.5 billion. Kinder Morgan plans to use the funds to reduce debt, but also "to invest in attractive projects," according to Chief Executive Officer Steve Kean. The company's backlog of projects is situated squarely in the U.S. natural gas sector. Industrial Info is tracking more than $15 billion in active Kinder Morgan projects.
Within this article: Details of Kinder Morgan pipelines and LNG facilities
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