From pipeline company Kinder Morgan today:
HOUSTON--(BUSINESS WIRE)--Nov. 1, 2013-- Tennessee Gas Pipeline Company (TGP), a subsidiary of Kinder Morgan Energy Partners, L.P. (NYSE: KMP), placed the fully subscribed Northeast Upgrade Project (NEUP) in service on schedule Nov. 1. The approximately $500 million project boosts capacity on TGP’s 300 Line system in Pennsylvania and New Jersey by 636,000 dekatherms per day (dth/d) and provides additional takeaway capacity from the Marcellus shale area.
TGP also placed into service its approximately $65 million Marcellus Pooling Point (MPP) project as scheduled on Nov. 1. The fully subscribed project provides about 240,000 dth/d of additional firm Marcellus transportation capacity on TGP’s pipeline system in Pennsylvania.
“We are delighted to place both the NEUP and MPP projects in service as scheduled and provide our customers with reliable, efficient pipeline service to move more Marcellus Shale natural gas to the growing northeast market,” said Natural Gas Pipelines East Region President Kimberly S. Watson. “We continue to make progress on approximately $300 million of additional TGP expansion projects that have been previously announced.”
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline transportation and energy storage company and one of the largest publicly traded pipeline limited partnerships in America. It owns an interest in or operates more than 54,000 miles of pipelines and 180 terminals. The general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $110 billion. It owns an interest in or operates more than 82,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interests of KMP and El Paso Pipeline Partners, L.P. (NYSE: EPB), along with limited partner interests in KMP, Kinder Morgan Management, LLC (NYSE: KMR) and EPB. For more information please visit www.kindermorgan.com.