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The project is designed to transport up to 1.5 Bcf/d of beneficiated natural gas US markets in the Southeast
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HOUSTON – Tennessee Gas Pipeline, LLC (TGP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI), today announced its decision to proceed with its Mississippi Crossing Project (MSX Project) after securing long-term, binding customer transit agreements for all capacity.
“This transformational project will benefit the Southeast region as it will provide increased access to various sources of supply,” said Natural Gas Pipelines President Sital Mody. “More supply will help meet growing electricity demand and lower energy costs, allowing power producers and other energy providers in the region to attract new residential, commercial and industrial opportunities. We are in final discussions with customers for up to an additional 0.4 Bcf/d of long-term commitments, which would require additional capital to improve horsepower.”
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The $1.4 billion MSX project is designed to transport up to 1.5 Bcf/d of natural gas and primarily involves the construction of approximately 206 miles of 42-inch and 36-inch pipelines and two new compression stations. The project will run from Greenville, Mississippi, and end near Butler, Alabama, connecting to the existing TGP system and third-party pipelines to provide critical access to multiple feeder basins. Pending receipt of all necessary permits and approvals, the project is expected to begin operations in November 2028.
“The fundamentals in the natural gas market are strong, with significant growth expected over the next five years from LNG sales, exports to Mexico and power generation,” said KMI CEO Kim Dang. “With today’s announcement, KMI has committed approximately $3.1 billion (KMI’s share) in expansion financing between the SNG South System 4 Expansion and TGP’s Mississippi Crossing Project. We expect to announce more projects in the coming months.”
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 factor in improving lives around the world. We are committed to providing transportation and energy storage services in a safe, efficient, and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own or operate approximately 79,000 miles of pipelines, 139 terminals, 702 billion cubic feet of active natural gas storage capacity and have the potential to produce approximately 6.1 Bcf of renewable natural gas per year with an additional 0.8 Bcf ongoing. Our pipelines transport natural gas, refined oil products, crude oil, condensate, CO2renewable fuels and other products, and our terminals store and handle a variety of materials including gasoline, diesel fuel, jet fuel, chemicals, metals, petroleum coke, and ethanol and other renewable fuels and consumables. Read more about our work developing energy solutions on the low carbon initiatives page at www.kindermorgan.com.
Important Information Related to Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. In general, the words “expects,” “believes,” expects,” “plans,” “will,” “will,” “estimates,” and similar expressions indicate forward-looking statements, usually non-historical in nature. Forward-looking statements in this news release include expressed or implied statements regarding energy demand, natural gas demand related to the completion, timing and benefits of the MSX project. Forward-looking statements are subject to risks and uncertainties and are based on management’s beliefs and assumptions, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it cannot provide assurance as to when any forward-looking statements will occur or their ultimate impact on our operations or financial condition. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include: the timing and extent of changes in the supply of and demand for the products we ship and handle; commodity prices; regulatory and policy changes; delays or cost overruns affecting expansion projects; and other 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, 2023 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements Forward” and elsewhere) and their 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 are made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement as a result 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.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20241219503173/en/
Contacts
Katherine Hill
Media Relations
newsroom@kindermorgan.com
Investor relations
(800) 348-7320
km_ir@kindermorgan.com
www.kindermorgan.com
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