Kinder Morgan to acquire Monument Pipeline
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
Kinder Morgan exceeded Wall Street expectations for first-quarter profit on Wednesday, as the pipeline operator benefited from increased US natural gas demand driven by the Middle East conflict and data centre expansion (Reuters).
US pipeline companies are benefiting from robust oil and gas output in the Permian Basin, with ongoing uncertainty about ship traffic through the Strait of Hormuz leading to a greater preference for US-sourced LNG.
"The geopolitical landscape became even more turbulent this quarter, with conflict in the Middle East joining the ongoing war in Ukraine as ?a source of significant commodity price volatility," Executive Chairman Richard Kinder said.
The company said the Middle East conflict also curbs competing LNG supply boosting the longer-term consumption outlook. It expects total US gas demand to reach 150 billion ft3/d by 2031, up about 27% from this year.
Kinder, which is one of the largest energy infrastructure companies in North America, also said it has agreed to acquire Monument Pipeline, a 225 mile natural gas pipeline system serving Houston and nearby markets, for US$505 million in cash.
The transaction is expected to close in ?the second quarter of 2026.
Read the article online at: https://www.worldpipelines.com/business-news/23042026/kinder-morgan-to-acquire-monument-pipeline/
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