Kinder Morgan Closes on Stagecoach Assets
July 09 2021 - 4:35PM
Business Wire
Investment expected to be immediately
accretive to KMI shareholders
Kinder Morgan, Inc. (NYSE: KMI) today closed on its previously
announced acquisition of the business of Stagecoach Gas Services
LLC (Stagecoach). The Stagecoach assets include 4 natural gas
storage facilities with a total FERC-certificated working gas
capacity of 41 billion cubic feet and a network of FERC-regulated
natural gas transportation pipelines with multiple interconnects to
major interstate natural gas pipelines, including Tennessee Gas
Pipeline (TGP), a KMI subsidiary.
“We’re pleased to add this well-positioned natural gas
infrastructure to our portfolio of natural gas assets and provide
additional services to our customers in the Northeast,” said KMI’s
President of Interstate Natural Gas Pipelines Kimberly S. Watson.
“Natural gas continues to play a vital role as both a low emission
fuel source and as a backstop to intermittent renewable power
generation.”
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 people,
communities and businesses we serve. We own an interest in or
operate approximately 83,000 miles of pipelines and 144 terminals.
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,
jet fuel, chemicals, ethanol, metals and petroleum coke. 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 proposed transaction, including
the anticipated benefits to KMI’s business and stockholders.
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, 2020
(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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KINDER MORGAN CONTACTS
Melissa Ruiz Director, Corporate Communications
newsroom@kindermorgan.com
Investor Relations (800) 348-7320 km_ir@kindermorgan.com
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