Kinder Morgan, Inc. (KMI) is pleased to announce that Tennessee Gas Pipeline (TGP) and El Paso Natural Gas (EPNG) have agreed to settlements with their shippers to address issues raised by the Federal Energy Regulatory Commission's (FERC) 501-G process.
KMI was very happy to work with its shippers without the need for litigation or any additional intervention by the FERC. Rate adjustments set forth in the agreements by TGP and EPNG will have a combined approximately US$50 million EBITDA impact for 2019; and when fully implemented, will have an approximately US$100 million combined annual impact on EBITDA. KMI expects that these two agreements, pending approval by FERC, should resolve the vast majority of KMI's 501-G exposure.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. is one of the largest energy infrastructure companies in North America. The company own an interest in or operate approximately 84 000 miles of pipelines and 157 terminals. KMI’s pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and the company’s terminals transload and store liquid commodities including petroleum products, ethanol and chemicals, and bulk products, including petroleum coke, metals and ores.
Read the article online at: https://www.worldpipelines.com/business-news/09042019/kinder-morgan-announces-501-g-settlements/