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Midcontinent Express Pipeline Announces Binding Open Season for Expansion Houston
HOUSTON, June 18, 2008 – Midcontinent Express Pipeline LLC (MEP), a natural gas pipeline jointly owned by Kinder Morgan Energy Partners, L.P. (NYSE: KMP) and Energy Transfer Partners, L.P. (NYSE: ETP), today announced a binding open season for the expansion of a portion of MEP’s planned pipeline system. The expansion will increase the capacity by 300,000 dekatherms per day (Dth/d) and will take the main segment of MEP’s Zone 1 capacity to 1.8 billion cubic feet per day. The expansion will originate at the planned interconnect locations with Energy Transfer and Natural Gas Pipeline Company of America in the Paris,Texas, area and terminate at the planned interconnect location with Columbia Gulf Transmission near Waverly, La. MEP has a limited amount of available capacity not under contract both upstream and downstream of the expanded segment for those parties interested in extending their path.
MEP is conducting a binding open season beginning today and accepting shipper commitments through 3 p.m. Central Time on July 9, 2008. MEP has obtained a pre-arranged binding commitment from a shipper for 300,000 Dth/d of capacity on the expansion project. Pending the necessary regulatory approvals, the expansion project is anticipated to be in service on or before December of 2010.
Shippers seeking additional information or open season materials on the project should contact David Matney at (713) 369-9218, Laura McGuire Heckman at (713) 369-9436 or Kim Watson at (713) 369-9233. Further details are also available on the MEP web site(www.midcontinentexpress.com).
Kinder Morgan Energy Partners, L.P. is a leading pipeline transportation and energy storage company in North America. KMP owns an interest in or operates more than 25,000 miles of pipelines and 165 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also the leading provider of CO2 for enhanced oil recovery projects in North America. One of the largest publicly traded pipeline limited partnerships in America, KMP has an enterprise value of over $20 billion. The general partner of KMP is owned by Knight Inc. (formerly Kinder Morgan, Inc.), a private company.
Energy Transfer Partners, L.P. (NYSE: ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico and Utah, and owns the largest intrastate pipeline system in Texas. ETP’s natural gas operations include intrastate natural gas gathering and transportation pipelines, natural gas treating and processing assets and three natural gas storage facilities located in Texas. These assets include approximately 14,000 miles of intrastate pipeline in service, with approximately 500 miles of intrastate pipeline under construction, and 2,400 miles of interstate pipeline. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE: ETE) owns the general partner of Energy Transfer Partners and approximately 62.5 million ETP limited partners units. Together ETP and ETE have a combined enterprise value of approximately $20 billion.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Kinder Morgan believes that its expectations 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 are enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission.
Larry Pierce
Media Relations
Kinder Morgan
(713) 369-9407
Mindy Mills
Investor Relations
Kinder Morgan
(713) 369-9490
Vicki Granado
Media Relations
Granado Communications Group
(214) 504-2260 office
(214) 498-9272 cell
Renee Lorenz
Investor Relations
Energy Transfer
(214) 981-0700
www.energytransfer.com |
