HOUSTON--(BUSINESS WIRE)--Jul. 30, 2014--
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced it has
reached agreement, subject to customary approvals, with key local
natural gas distribution companies (LDCs) throughout New England to
transport approximately 500,000 dekatherms per day (Dth/d) of long-term
firm transportation on the market path component of Tennessee Gas
Pipeline Company’s (TGP) Northeast Energy Direct Project. Included in
this key group are: The Berkshire Gas Company, Columbia Gas of
Massachusetts, Connecticut Natural Gas Corporation, Liberty Utilities
(EnergyNorth Natural Gas) Corp., National Grid, Southern Connecticut Gas
Corporation and three other LDCs. Negotiations with additional customers
on both the market path and supply path components of the Northeast
Energy Direct Project are continuing and agreements are expected to be
“We are extremely pleased to provide a key solution to New England’s
long-term energy infrastructure needs,” said Natural Gas Pipelines East
Region President Kimberly S. Watson. “Multiple studies continue to
suggest there is a need for up to 2 billion cubic feet per day (Bcf/d)
of new pipeline capacity into New England and neighboring markets, and
the commitment by the LDCs represents a critical milestone in the
development of TGP’s role in solving the need for new energy
infrastructure. TGP provides unmatched supply diversity, including
access to the prolific Marcellus shale, making the Northeast Energy
Direct Project an ideal solution to satisfy rapidly growing natural gas
demand that is forecasted in the Northeast and New England in the years
Northeast Energy Direct has capacity scalable from approximately 800,000
Dth/d to 1.2 Bcf/d, or ultimately up to 2.2 Bcf/d, depending on final
customer commitments. Capacity will include a combination of new
pipeline, existing pipeline, additional pipeline loops, new compressor
stations, station modifications and metering and measurement equipment
in Pennsylvania, New York, Massachusetts, Connecticut, New Hampshire and
Rhode Island. TGP plans to begin the pre-filing process with the Federal
Energy Regulatory Commission in September 2014. Subject to receiving
sufficient commitments for capacity as well as regulatory approval, the
project is expected to begin service in November 2018.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline
transportation and energy storage company and one of the largest
publicly traded pipeline limited partnerships in America. It owns an
interest in or operates approximately 54,000 miles of pipelines and 180
terminals. The general partner of KMP is owned by Kinder Morgan, Inc.
(NYSE: KMI). Kinder Morgan is the largest midstream and the fourth
largest energy company in North America with a combined enterprise value
of approximately $110 billion. It owns an interest in or operates
approximately 80,000 miles of pipelines and 180 terminals. Its pipelines
transport natural gas, gasoline, crude oil, CO2 and other
products, and its terminals store petroleum products and chemicals and
handle such products as ethanol, coal, petroleum coke and steel. KMI
owns the general partner interests of KMP and El Paso Pipeline Partners,
L.P. (NYSE: EPB), along with limited partner interests in KMP and EPB
and shares in Kinder Morgan Management, LLC (NYSE: KMR). For more
information please visit www.kindermorgan.com.
This news release includes forward-looking statements.
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
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.
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.
Source: Kinder Morgan Energy Partners, L.P.
Kinder Morgan Energy Partners, L.P.
Richard Wheatley, (713) 420-6828