Kinder Morgan Ups Spending for 2021 After Winter Storm Ups Profits

SUGAR LAND--April 23, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) reported a stunning one-time gain in profits following Winter Storm Uri, which resulted in freezing conditions across Texas that boosted natural gas and power-generation prices. The company saw as much as $880 million in gas sales, far exceeding expectations and likely contributing to its decision to spend more sustaining capital in 2021, compared to the previous year. Industrial Info is tracking $11.4 billion in active projects from Kinder Morgan, including about $2.5 billion worth in the U.S. that are set to begin construction later this year.

Within this article: Details on some of Kinder Morgan's major projects under development, including a series of pipeline projects and a terminal in Texas, and how the company is boosting its spending outlook.