KMI's Tennessee Gas Pipeline Greenlights Mississippi Crossing Project

Zacks01-03 23:52

Kinder Morgan Inc. KMI has announced that its subsidiary, Tennessee Gas Pipeline, L.L.C. (“TGP”), has made a final investment decision to go ahead with the Mississippi Crossing Project (MSX Project). ...

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(“TGP”), has made a final investment decision to go ahead with the Mississippi Crossing Project (MSX Project). ...</p>\n\n<a href=\"https://finance.yahoo.com/news/kmis-tennessee-gas-pipeline-greenlights-155200856.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1162221912.USD","symbol_name":"FRANKLIN INCOME \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/kmis-tennessee-gas-pipeline-greenlights-155200856.html","article_id":"2500419521","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2500419521","pubTimestamp":1735919520,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Kinder Morgan Inc.KMI has announced that its subsidiary, Tennessee Gas Pipeline, L.L.C. , has made a final investment decision to go ahead with the Mississippi Crossing Project . 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(“TGP”), has made a final investment decision to go ahead with the Mississippi Crossing Project (MSX Project). The MSX Project involves the construction of a pipeline network spanning approximately 2.6 miles and two new compressor stations for the transportation of up to 1.5 billion cubic feet per day (Bcf/d) of natural gas. The project has an estimated cost of nearly $1.4 billion.\nEconomic and Regional Benefits of the Project\nTGP decided to proceed with the project after successfully signing long-term, binding transportation contracts with customers to use up the entire available capacity of the project. The president of Natural Gas Pipelines mentions that the project should provide benefits of increased access to natural gas in the Southeast region. Furthermore, this project is also expected to contribute toward the diversification of supply sources in the region, thereby lowering costs and meeting the rising energy demand. Additionally, the incremental supply should enable other energy providers to draw in new residential and industrial opportunities.\nThe company further mentioned that it has reached advanced discussions with KMI’s customers to secure more long-term commitments that would add up to 0.4 Bcf/d to the project’s total capacity. To support the additional capacity, the company would require increased capital for more horsepower.\nKey Features of the MSX Project\nThe MSX Project will start near Greenville, MS and is expected to end near Butler, AL. The new pipeline shall be connected to TGP’s existing pipeline system and other third-party pipelines. This shall enable the pipeline project to provide access to a critical supply of gas from several supply basins. The well-connected pipeline project should reduce the risk of dependence on a single supply basin.\nThe project is pending all the necessary permits and clearances. Upon receiving the necessary approvals, the pipeline is expected to be in place to start operations by November 2028.\nKMI’s Outlook & Strategic Investments\nKinder Morgan highlights that the outlook for the natural gas market remains bright. Over the next five years, the midstream company expects notable growth in LNG exports and power generation. The company also mentions that its exports to Mexico are also anticipated to grow. KMI has committed significant expansion capital, totaling $3.1 billion, toward two major projects, the SNG South System 4 Expansion and TGP’s Mississippi Crossing Project.\nKMI’s Zacks Rank and Key Picks\nKMI currently carries a Zacks Rank #3 (Hold).\nSome better-ranked stocks from the Energy sector are TechnipFMC plc FTI, Sunoco LP SUN and Oceaneering International OII. TechnipFMC and Sunoco currently sport a Zacks Rank #1 (Strong Buy) each, while Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nTechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a high of $14.7 million in the third quarter of 2024, indicating an 11.1% increase from the previous year’s level. This growing backlog ensures strong revenue growth for FTI.\nSunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.\nOceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. Its proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nSunoco LP (SUN) : Free Stock Analysis Report\nOceaneering International, Inc. (OII) : Free Stock Analysis Report\nKinder Morgan, Inc. (KMI) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2500419521"}