Kinder Morgan Inc. Q3 Net Income Flat at $628M


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   OAKHURST, N.J. (DTN) --- Kinder Morgan, Inc. reported on Wednesday (10/22) a 
third quarter net income of $628 million that was little changed from the year 
ago level of $625 million, citing increased contributions from its natural gas 
pipeline, product pipelines and terminals businesses.

   KMI President Tom Martin said its natural gas transport volumes were up 6% 
from the third quarter of last year as a result of LNG deliveries on the 
Tennessee Gas Pipeline, new activity on the Texas Intrastate system and 
increased Permian deliveries to Waha and Mexico via the El Paso Natural Gas 
line.

   Natural gas gathering volumes, meanwhile, rose 9% year-on-year across all 
assets, driven primarily by KMI's Haynesville and Eagle Ford systems.

   Total refined products volumes, however, slid 1% from a year ago. Crude and 
condensate volumes were, particularly, down 3% due to the expiration of legacy 
contracts, although this was partially offset by higher volumes across all 
other crude and condensate pipelines.

   Earnings from the carbon business segment, which include Energy Transition 
Ventures (ETV), were also down from the year-ago period due to lower crude and 
CO2 volumes, as well as lower CO2 and D3 RIN prices that determine the 
profitability of renewable natural gas projects.

   For the outlook, KMI which currently has long-term contracts to move almost 
8 Bcf/d of gas to LNG facilities, expects to grow its capacity to almost 12 
Bcfd by the end of 2028 upon completion of projects under construction, CEO Kim 
Dang said.

    




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