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  • Kinder Morgan, DCP Midstream and Targa Resources Announce Final Investment Decision on Gulf Coast Express Pipeline Project
    édité le 22/12/2017 - Plus de news de "Kinder Morgan" - Voir la fiche entreprise de "Kinder Morgan"


Kinder Morgan, DCP Midstream and Targa Resources Announce Final Investment Decision on Gulf Coast Express Pipeline Project
Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan, Inc., DCP Midstream, LP (DCP Midstream) and an affiliate of Targa Resources Corp. (Targa) announced a final investment decision to proceed with the Gulf Coast Express Pipeline Project (GCX Project) after having executed definitive joint venture agreements and having secured sufficient firm transportation agreements with shippers. Approximately 85 percent of the project capacity is subscribed and committed under long-term, binding transportation agreements, and the partners expect that the remaining capacity will be subscribed by early 2018.

Shippers that have committed to the project include, but are not limited to, the following: DCP Midstream, Targa, Apache Corporation and Pioneer Natural Resources Company. KMTP also has committed volumes that are backstopped by a long-term purchase agreement that locks in the equivalent transport fee on the pipeline.

The approximately $1.7 billion GCX Project is designed to transport up to 1.92 billion cubic feet per day (Bcf/d) of natural gas. The GCX Project Mainline portion consists of approximately 82 miles of 36-inch pipeline and 365 miles of 42-inch pipeline originating at the Waha Hub near Coyanosa, Texas in the Permian Basin and terminating near Agua Dulce, Texas. Additionally, the Midland Lateral portion consists of approximately 50 miles of 36-inch pipeline and associated compression, connecting with the GCX Project Mainline.

The project is expected to be in service in October 2019, pending the receipt of necessary regulatory approvals. As previously announced, KMI will build, operate and own a 50 percent interest in the GCX Project, and DCP Midstream and Targa will each hold a 25 percent equity interest in the project. In addition to their transportation agreements, shipper Apache Corporation has an option to purchase up to a 15 percent equity stake in the project from Kinder Morgan.

“We are excited to be moving forward on this much-needed infrastructure project, with construction planned to commence in the first quarter of 2018,” said Kinder Morgan Natural Gas Midstream President Duane Kokinda. “We’re very pleased to have secured the commitments needed for all parties to proceed. The remaining available capacity continues to be marketed to interested shippers and may be offered as part of a binding open season in January 2018. With this important milestone reached, the project is now included in Kinder Morgan’s backlog.”

About Kinder Morgan

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. It owns an interest in or operates approximately 84,000 miles of pipelines and 155 terminals. KMI’s pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and its terminals transload and store petroleum products, ethanol and chemicals, and handle products such as steel, coal and petroleum coke. It is also a leading producer of CO2 that we and others use for enhanced oil recovery projects primarily in the Permian basin.

About DCP Midstream

DCP Midstream, LP (NYSE: DCP) is a midstream master limited partnership, with a diversified portfolio of assets, engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering and selling condensate. DCP owns and operates more than 60 plants and 64,000 miles of natural gas and natural gas liquids pipelines, with operations in 17 states across major producing regions and leads the midstream segment as the largest natural gas liquids producer, the largest natural gas processor and one of the largest marketers in the U.S. Denver, Colorado based DCP is managed by its general partner, DCP Midstream GP, LP, which is managed by its general partner, DCP Midstream GP, LLC, which is 100% owned by DCP Midstream, LLC. DCP Midstream, LLC is a joint venture between Phillips 66 and Enbridge.

About Targa Resources Corp.

Targa Resources Corp. (NYSE: TRGP) is a leading provider of midstream services and is one of the largest independent midstream energy companies in North America. Targa owns, operates, acquires, and develops a diversified portfolio of complementary midstream energy assets. The Company is primarily engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting, and selling NGLs and NGL products, including services to LPG exporters; gathering, storing, and terminaling crude oil; storing, terminaling, and selling refined petroleum products.


Origine : Communiqué Kinder Morgan

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