Published on 1 Jul 2022 on Zacks via Yahoo Finance
Kinder Morgan Inc. KMI, through its subsidiary, reached a final investment decision on its proposed natural gas pipeline expansion project.
The final investment decision was taken after Permian Highway Pipeline (“PHP”) secured binding firm transportation agreements for all available capacities. PHP is owned by subsidiaries of Kinder Morgan, with a 26.7% ownership interest.
The decision came as multiple liquefied natural gas processing facilities have been proposed along the Texas Gulf Coast to meet Europe’s rising demand for gas. The facilities would require 3.1 billion cubic feet per day of natural gas supply.