HOUSTON--(BUSINESS WIRE)--Sep. 24, 2019--
Kinder Morgan, Inc. (NYSE: KMI) today announced that the Gulf Coast Express Pipeline Project (GCX) will begin full commercial in-service on September 25, 2019, delivering natural gas from the Waha area in West Texas to Agua Dulce near the Texas Gulf Coast. Fully subscribed under long-term contracts, GCX provides approximately 2.0 billion cubic feet per day of incremental natural gas capacity to the Texas Gulf Coast markets, which will help relieve existing Permian Basin gas takeaway constraints and help reduce natural gas flaring.
“We are pleased to place GCX in service safely and ahead of schedule for our customers, helping to unlock tremendous value for the State of Texas. I am very proud of our team’s ability to execute. We had over 3,000 contractors deployed at times and more than six million contractor hours worked – all without a major safety incident during the construction phases of the project,” said Kinder Morgan Natural Gas Midstream President Sital Mody. “With natural gas supplies projected to rise over the next 20 years from supply basins such as the Permian, our strong network of pipelines provides the ability to connect this supply to the growing markets along the Gulf Coast. We look forward to delivering on additional infrastructure projects in the months to come.”
Kinder Morgan Texas Pipeline, a subsidiary of KMI, owns a 34 percent interest in GCX and is the operator of the pipeline. Other equity holders include Altus Midstream, DCP Midstream and an affiliate of Targa Resources.
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 84,000 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 timing and benefits of the GCX and additional infrastructure projects and anticipated growth in natural gas supplies and markets. 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, 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 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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Source: Kinder Morgan, Inc.