Kinder Morgan Closes on Southcross Energy Assets
November 06 2019 - 5:39PM
Business Wire
Acquired facilities enhance connectivity on
the company’s Texas intrastate network
Kinder Morgan Tejas Pipeline, LLC (Tejas), a subsidiary of
Kinder Morgan, Inc. (NYSE: KMI) today closed on its acquisition of
certain natural gas pipeline assets owned by Southcross Energy. The
total purchase price was approximately $76 million and includes the
Corpus Christi Pipeline Network and Bay City Lateral.
“We continue to focus on opportunities to increase our natural
gas connectivity to meet LNG facilities, Gulf Coast power,
industrial and petrochemical demand,” said Kinder Morgan Natural
Gas Midstream President Sital Mody. “These assets are a nice
complement to our existing Texas portfolio of assets and allow for
further connectivity on our Texas Intrastate system.”
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. Our mission is to
provide energy transportation and storage services in a safe,
efficient and environmentally responsible manner for the benefit of
people, communities and businesses. Our vision is delivering energy
to improve lives and create a better world. We own an interest in
or operate approximately 84,300 miles of pipelines and 157
terminals. Our pipelines transport natural gas, refined petroleum
products, crude oil, condensate, CO2 and other products, and our
terminals transload and store liquid commodities including
petroleum products, ethanol and chemicals, and bulk products,
including petroleum coke, metals and ores. For more information,
please visit www.kindermorgan.com.
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 benefits of the
acquisition. 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 nor
their ultimate impact on our 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, 2018 (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 our 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/20191106006108/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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