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Stock Market & Financial Investment News

News Breaks
November 14, 2012
12:01 EDTKMI, KMPEl Paso Natural Gas signs long-term contract to build new pipeline
El Paso Natural Gas, owned by Kinder Morgan Energy (KMP) and Kinder Morgan (KMI), has entered into a 25-year transportation precedent agreement in connection with plans to build a new pipeline to serve customers in Mexico. Terms call for EPNG, acting through its affiliate Sasabe Pipeline Company, to initially provide approximately 200M cubic feet per day of firm transportation capacity via a new, 60-mile, 36-inch diameter lateral pipeline that would extend from EPNG's existing south mainlines, near Tucson, Ariz., to the U.S.-Mexico border, terminating at Sasabe, Ariz. The proposed Sasabe Pipeline would interconnect via a new international border crossing with a 36-inch diameter natural gas pipeline to be built in Mexico. It is anticipated that FERC certificate and presidential permit applications will be filed in early 2013. Subject to regulatory approvals, construction of the Sasabe Lateral would begin in the first quarter of 2014, with anticipated in-service in September 2014.
News For KMP;KMI From The Last 14 Days
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July 28, 2015
10:31 EDTKMIKinder Morgan starts binding open season for Mier-Monterrey pipeline expansion
Kinder Morgan Gas Natural de Mexico, a subsidiary of Kinder Morgan, announced the start of a binding open season to solicit interest for incremental firm natural gas transportation service on its Mier-Monterrey pipeline, which would expand capacity to approximately 1.34B cubic feet per day. The expansion project, which would be completed by the fourth quarter of 2017, will consist of the looping of the existing Mier-Monterrey pipeline system from the Mexico-United States border to Huinalá, Nuevo León, Mexico, and a new lateral from Pesquería, Nuevo León, Mexico, to Escobedo, Nuevo León, Mexico. The open season bid period begins on Aug. 13, 2015, and ends at 5 p.m. Central Time on Aug. 22, 2015.
July 24, 2015
16:44 EDTKMIUIL Holdings to invest in natural gas pipeline project
UIL Holdings Corporation (UIL) will invest in a natural gas transmission pipeline project that, when complete, is expected to alleviate capacity constraints in the system that serves New England and the northeast region. UIL announced its investment in the development of Kinder Morgan’s (KMI) proposed Northeast Energy Direct natural gas pipeline project, which will extend approximately 188 miles of new transmission pipeline from New York State, through Massachusetts and New Hampshire. The new pipeline is expected to begin commercial operation in 2018. Under an agreement signed this week, UIL has acquired a 2.5% interest, or approximately $80M, in Northeast Expansion. UIL will also have additional options -- under limited circumstances -- to increase its equity participation. Northeast Expansion is the joint venture responsible for development, construction and ownership of the new pipeline, which will be part of Kinder Morgan’s Tennessee Gas Pipeline system.

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