Kinder Morgan, Inc. announced it has sold all of the approximately 25 million shares of Pembina Pipeline Corporation (Pembina) stock it received in connection with Pembina’s acquisition of the outstanding common equity of Kinder Morgan Canada Limited.

The sale of these shares is consistent with KMI’s previously announced intention to convert the shares into cash in an opportunistic and non-disruptive manner, and the after-tax proceeds of $764 million are consistent with KMI’s 2020 budget.

As previously disclosed, KMI intends to use the proceeds to pay down debt – creating balance sheet flexibility in 2020 (relative to KMI’s long-term leverage target of 4.5 times Net Debt-to-Adjusted EBITDA).

About Kinder Morgan, Inc.

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 83,000 miles of pipelines and 151 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.

About Pembina

Calgary-based Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) is a leading transportation and midstream service provider that has been serving North America's energy industry for 65 years. Pembina owns an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in western Canada. The Company also owns gas gathering and processing facilities; an oil and natural gas liquids infrastructure and logistics business; is growing an export terminals business; and is currently constructing a petrochemical facility to convert propane into polypropylene.
Pembina's integrated assets and commercial operations along the majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to identifying additional opportunities to connect hydrocarbon production to new demand locations through the development of infrastructure that would extend Pembina's service offering even further along the hydrocarbon value chain.
These new developments will contribute to ensuring that hydrocarbons produced in the Western Canadian Sedimentary Basin and the other basins where Pembina operates can reach the highest value markets throughout the world.