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Energy Kinder Morgan, partners moving forward with $1.7 billion Permian Basin to Corpus...

Kinder Morgan, partners moving forward with $1.7 billion Permian Basin to Corpus gas pipeline

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Kinder Morgan Texas Pipeline LLC, a subsidiary of Kinder Morgan Inc. (NYSE: KMI), DCP Midstream, LP (NYSE: DCP) and an affiliate of Targa Resources Corp. (NYSE: TRGP) said Dec. 21 it will proceed with the Gulf Coast Express Pipeline Project (GCX Project) that will run from the Permian Basin to Corpus Christi. The $1.7 billion natural gas pipeline project is expected to begin operation by October 2019.

Approximately 85 percent of the project capacity is subscribed and committed under long-term, binding transportation agreements, and the partners expect that the remaining capacity will be subscribed by early 2018, according to a news release from Kinder Morgan.

Shippers that have committed to the project include, but are not limited to, the following: DCP Midstream, Targa, Apache Corporation and Pioneer Natural Resources Co. are among the shippers that have commited to the project.

The GCX Project is designed to transport up to 1.92 billion cubic feet per day (Bcf/d) of natural gas. The GCX Project Mainline portion consists of approximately 82 miles of 36-inch pipeline and 365 miles of 42-inch pipeline originating at the Waha Hub near Coyanosa, Texas in the Permian Basin and terminating near Agua Dulce, Texas. Additionally, the Midland Lateral portion consists of approximately 50 miles of 36-inch pipeline and associated compression, connecting with the GCX Project Mainline.

As previously announced, KMI will build, operate and own a 50 percent interest in the GCX Project, and DCP Midstream and Targa will each hold a 25 percent equity interest in the project. In addition to their transportation agreements, shipper Apache Corporation has an option to purchase up to a 15 percent equity stake in the project from Kinder Morgan.

“We are excited to be moving forward on this much-needed infrastructure project, with construction planned to commence in the first quarter of 2018,” said Kinder Morgan Natural Gas Midstream President Duane Kokinda. “We’re very pleased to have secured the commitments needed for all parties to proceed. The remaining available capacity continues to be marketed to interested shippers and may be offered as part of a binding open season in January 2018. With this important milestone reached, the project is now included in Kinder Morgan’s backlog.”

www.kindermorgan.com.


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