|DALLAS, TEXAS — August 3rd, 2009 — Construction of the approximately 500-mile Midcontinent Express Pipeline (MEP) is complete and natural gas transportation service commenced Saturday, Aug. 1, on the pipeline from Delhi, La., to Transcontinental Pipe Line’s Station 85 in Butler, Ala. Interim service had begun on the pipeline from Bennington, Okla., to Delhi in April. MEP is a joint venture of Kinder Morgan Energy Partners, L.P. (NYSE: KMP) and Energy Transfer Partners, L.P. (NYSE: ETP). |
“We are delighted that the final leg of the Midcontinent Express Pipeline is in service,” said Steve Kean, president of Kinder Morgan’s Natural Gas Pipelines group. Kinder Morgan constructed and will operate the pipeline.
“The completion of this final segment of MEP affords shippers and producers in the Barnett Shale, Bossier Sands and other producing regions access to markets in the eastern United States,” said Lee Hanse, senior vice president of Energy Transfer’s Interstate Pipeline group.
MEP has multiple receipt and delivery points along the pipeline system, which originates in southeast Oklahoma, crosses northeast Texas, northern Louisiana and central Mississippi and ends in Alabama. Capacity is currently up to 1.25 billion cubic feet (Bcf) per day in Zone 1, which interconnects with the Columbia Gulf Transmission system in Delhi and up to 0.84 Bcf per day in Zone 2, which interconnects with the Transcontinental Gas Pipe Line system in Butler. An expansion of the pipeline is expected to be completed in 2010, which will further increase MEP’s capacity to approximately 1.8 Bcf per day in Zone 1 and 1.2 Bcf per day in Zone 2. The pipeline’s capacity, including the expansion capacity, is fully subscribed with long-term binding commitments from creditworthy shippers.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline transportation and energy storage company in North America. KMP owns an interest in or operates more than 28,000 miles of pipelines and 170 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also the leading provider of CO2 for enhanced oil recovery projects in North America. One of the largest publicly traded pipeline limited partnerships in America, KMP has an enterprise value of over $20 billion. The general partner of KMP is owned by Kinder Morgan, Inc., a private company.
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP’s natural gas operations include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE: ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners, L.P. and approximately 62.5 million ETP limited partner units.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Kinder Morgan believes that its expectations 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 are enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission.
Kinder Morgan Energy Partners
Energy Transfer Partners
(214) 504-2260 office
(214) 498-9272 cell