Press release from Business Wire
Tennessee Gas, Mitsubishi Corporation Sign Agreement for Transportation to Proposed Cameron LNG Liquefaction Facility
Thursday, May 16, 2013
Tennessee Gas, Mitsubishi Corporation Sign Agreement for Transportation to Proposed Cameron LNG Liquefaction Facility16:15 EDT Thursday, May 16, 2013
HOUSTON (Business Wire) -- Tennessee Gas Pipeline Company, L.L.C. (TGP), a unit of Kinder Morgan Energy Partners, L.P. (NYSE: KMP), has signed a binding, 20-year firm transportation precedent agreement with Mitsubishi Corporation (MC) of Japan (Tokyo Stock Exchange: 8058; London Stock Exchange: MBC) to ship 600,000 dekatherms per day of natural gas earmarked for the proposed Cameron LNG liquefaction facility in Hackberry, La., which is slated to begin LNG exports in the second half of 2017.
MC will serve as the foundation shipper for TGP's Southwest Louisiana Supply Project, which is designed to provide transportation from various supply basins in Ohio, Pennsylvania, Texas and Louisiana to Cameron Interstate Pipeline, which connects directly to the Cameron LNG Terminal. Kinder Morgan does not own Cameron Interstate Pipeline or the Cameron LNG facility.
“TGP is pleased to partner with Mitsubishi Corporation, a world class organization and leader in the energy industry, on this strategic project,” said Kimberly Watson, TGP president. “TGP's unique footprint, connecting key conventional and shale supply areas from the South Texas Eagle Ford to the Utica and Marcellus in Ohio and Pennsylvania, and access to the Haynesville shale supply area and the Perryville Hub in Louisiana, makes our Southwest Louisiana Supply Project an ideal fit to serve the future supply needs of Mitsubishi Corporation and the planned Cameron LNG complex. TGP's diverse supply footprint continues to provide opportunities in the growing southwest Louisiana market.”
The Southwest Louisiana Supply Project is designed to provide transportation to the growing southwest Louisiana market. The project includes additional interconnections with shale supply, new pipeline laterals and enhancements to TGP's existing pipeline system to allow for bi-directional flow to the region. TGP will hold a binding open season for additional interest in its project at a later date.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline transportation and energy storage company and one of the largest publicly traded pipeline limited partnerships in America. It owns an interest in or operates approximately 51,000 miles of pipelines and 180 terminals. The general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $115 billion. It owns an interest in or operates approximately 80,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interests of KMP and El Paso Pipeline Partners, L.P. (NYSE: EPB), along with limited partner interests in KMP and EPB and shares in Kinder Morgan Management, LLC (NYSE: KMR). For more information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These 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 Kinder Morgan believes that these forward-looking statements 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 include those enumerated in Kinder Morgan's reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, Kinder Morgan undertakes no obligation to update or review any forward-looking statement because of new information, future events or other factors. Because of these uncertainties, readers should not place undue reliance on these forward-looking statements.
Kinder Morgan Energy Partners, L.P.
Richard Wheatley, (713) 420-6828