Kinder Morgan Announces Binding Open Season for Ethane/Propane Movements out of the Utica Shale
HOUSTON--(BUSINESS WIRE)--Sep. 4, 2014-- Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced the launch of a binding open season to solicit commitments for the previously announced Utica To Ontario Pipeline Access (UTOPIA) project, which will provide opportunities to transport ethane and ethane-propane mixtures from the prolific Utica shale area.
Under the UTOPIA project, Kinder Morgan Cochin will develop, construct, own and operate a 240-mile, 12-inch diameter pipeline from Harrison County, Ohio, to Kinder Morgan’s Cochin Pipeline near Riga, Michigan, where the company would then move product eastward to Windsor, Ontario, Canada. UTOPIA would transport previously refined or fractionated natural gas liquids (NGLs), including ethane and propane, with an initial 50,000 barrels per day (bpd) of capacity, which is expandable to more than 75,000 bpd. Pending a successful open season and timely receipt of necessary permitting and regulatory approvals, the new pipeline is expected to be in service by early 2018.
“We are pleased to offer this proposal, which will complement our existing transportation solutions for NGLs produced in the Utica,” said Don Lindley, president of Natural Gas Liquids, Products Pipelines for KMP. “The UTOPIA project will enable us to continue to provide a pipeline transportation solution into the growing Ontario market.”
Additional documents and details related to the open season will be made available upon completion of a confidentiality agreement. The binding open season begins Sept. 5, 2014, at 8 a.m. Central Time. Those interested in obtaining more detailed information about this open season can visit the Kinder Morgan web site at www.kindermorgan.com or contact Karen Kabin, vice president of business development in Kinder Morgan’s Products Pipelines group, at Karen_Kabin@kindermorgan.com or (713) 369-9268.
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 third largest energy company in North America with a combined enterprise value of approximately $125 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, Kinder Morgan Management, LLC (NYSE: KMR) and EPB. For more information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These 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 Morganbelieves that these forward-looking statements are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. 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. Forward-looking statements 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.
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