Houston-based Kinder Morgan approves $4.7 billion for two natural gas pipeline projects
HOUSTON, Texas — Kinder Morgan, the pipeline operator headquartered in Houston, Harris County, Texas, said Wednesday it has approved a total of $4.7 billion as its share of investments in two major natural gas pipeline joint ventures, citing rising demand from power plants, data centers and LNG exporters, Reuters reported. Shares rose 2.7% in extended trading after the company also beat quarterly profit estimates.
The company will invest about $3.1 billion in Southern Natural Gas' Southeast Connector project and $1.6 billion in Natural Gas Pipeline Company of America's (NGPL) Permian Link project. Southeast Connector would move up to 2.6 billion cubic feet per day through about 470 miles of new pipeline to growing markets in the U.S. Southeast. Permian Link is designed to carry roughly 2.8 Bcf/d from the Permian Basin near Pecos County, Texas, to NGPL's Midcontinent system through about 434 miles of new pipeline, and will supply gas to power providers serving an investment-grade hyperscale data-center customer.
The approvals lifted Kinder Morgan's project backlog to a record $14.4 billion, including a record $13.2 billion of natural gas projects. Permian Link is expected to enter service in the third quarter of 2030, with Southeast Connector starting in phases in the fourth quarter of 2030. The company posted adjusted earnings of 35 cents per share for the third quarter, versus analysts' estimates of 32 cents.
Published by GSM · USA (original Chinese edition)
Photo: 休斯顿天际线代表性照片。图片：Jason Villanueva，CC BY-SA 4.0，经Wikimedia Commons。 / Houston skyline, file photo. Photo: Jason Villanueva, CC BY-SA 4.0, via Wikimedia Commons.
