Kinder Morgan to Increase Storage Capacity on Its Texas Intrastate System
May 31 2023 - 4:30PM
Business Wire
Expansion project will increase working
storage capacity by more than 6 Bcf
Kinder Morgan, Inc. (NYSE: KMI) today announced its plan to
expand the working gas storage capacity at its Markham Storage
facility (Markham) in Matagorda County along the Texas Gulf Coast.
KMI has reached an agreement with Underground Services Markham,
LLC, a subsidiary of Texas Brine Company LLC, to lease an
additional cavern at Markham to provide more than 6 billion cubic
feet (Bcf) of incremental working gas storage capacity and 650
million cubic feet per day (MMcf/d) of incremental withdrawal
capacity on KMI’s extensive Texas intrastate pipeline system.
Anchor shippers have subscribed to approximately half of the
available capacity under long-term agreements, and commercial
in-service for the project is expected in January 2024.
“During Winter Storm Uri, KMI’s storage portfolio was critical
to supplying human needs customers in Texas while also providing
much needed supply to numerous electric generation facilities
during the storm. We are pleased to increase our natural gas
storage solutions to further support Texas customers, particularly
during severe weather events,” said KMI Natural Gas Midstream
President Tom Dender. “Storage capabilities on highly utilized
assets are critical to support Texas’ ability to respond to an
energy crisis and ensure energy reliability as renewables become a
greater portion of the state’s energy mix. This expansion will
provide much needed capacity that could supply gas-fired electric
generation facilities within ERCOT and provide electric service to
well in excess of one million homes in Texas.”
Prior to the expansion, Markham had 21.8 Bcf of working gas
storage capacity with peak delivery of 1.1 Bcf/day of natural gas
with multiple receipt and delivery points on KMI’s nearly
7,000-mile Texas intrastate system. Interested shippers can obtain
more information by contacting Larry Bell, Chief Commercial Officer
of Intrastate Pipelines in KMI’s Midstream Group at 713.369.8776 or
Larry_Bell@kindermorgan.com.
About Kinder Morgan,
Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. Access to reliable,
affordable energy is a critical component for improving lives
around the world. We are committed to providing energy
transportation and storage services in a safe, efficient and
environmentally responsible manner for the benefit of the people,
communities and businesses we serve. We own an interest in or
operate approximately 82,000 miles of pipelines, 140 terminals, and
700 billion cubic feet of working natural gas storage capacity and
have renewable natural gas generation capacity of approximately 2.2
Bcf per year of gross production with up to an additional 5.2 Bcf
in development. Our pipelines transport natural gas, refined
petroleum products, crude oil, condensate, CO2 and other products,
and our terminals store and handle various commodities including
gasoline, diesel fuel, chemicals, ethanol, metals and petroleum
coke. Learn more about our work advancing energy solutions on the
lower carbon initiatives page at www.kindermorgan.com.
About Texas Brine Company,
LLC
Texas Brine is a family-owned business based in Houston, Texas
with a proud heritage in salt-related businesses. Founded in 1946,
Texas Brine helped pioneer the commercial production of brine
through solution mining in Texas salt domes and co-founded the
Solution Mining Research Institute to promote understanding and
expertise in this evolving field. We currently supply approximately
a third of the brine requirements of the chlor-alkali industry -
creating millions of barrels of storage capacity per year. Our
underground caverns developed through brine production are designed
to meet storage needs for a wide variety of gas and liquid
products. Our focus is on the needs of our customers, from
operating customer-owned assets to developing and owning greenfield
sites dedicated to a customer's plant. Due to this commitment to
service, it is no surprise that Texas Brine has customer
relationships that span half a century. The Markham site, created
as a result of brine production by Texas Brine from natural salt
deposits, has been in use for more than 30 years for storage of
natural gas and has the infrastructure to support this expansion.
For more information, visit the Texas Brine website and follow us
on LinkedIn.
Important Information Relating to
Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 and Section 21E of the Securities and Exchange Act of 1934.
Generally the words “expects,” “believes,” anticipates,” “plans,”
“will,” “shall,” “estimates,” and similar expressions identify
forward-looking statements, which are not historical in nature.
Forward-looking statements in this news release include express or
implied statements concerning the anticipated capacity, timing and
benefits of the proposed Markham Storage Expansion project.
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 KMI believes
that these forward-looking statements are based on reasonable
assumptions, it can give no assurance as to when or if any such
forward-looking statements will materialize or their ultimate
impact on KMI’s operations or financial condition. Important
factors that could cause actual results to differ materially from
those expressed in or implied by these forward-looking statements
include the risks and uncertainties described in KMI’s reports
filed with the Securities and Exchange Commission (SEC), including
its Annual Report on Form 10-K for the year-ended December 31, 2022
(under the headings “Risk Factors” and “Information Regarding
Forward-Looking Statements” and elsewhere) and its subsequent
reports, which are available through the SEC’s EDGAR system at
www.sec.gov and on KMI’s website at ir.kindermorgan.com.
Forward-looking statements speak only as of the date they were
made, and except to the extent required by law, KMI undertakes no
obligation to update any forward-looking statement because of new
information, future events or other factors. Because of these risks
and uncertainties, readers should not place undue reliance on these
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230530005589/en/
Katherine Hill Media Relations (713) 369-9176
newsroom@kindermorgan.com
Investor Relations (800) 348-7320 km_ir@kindermorgan.com
www.kindermorgan.com
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