Killajoules

KMP to Purchase 100% of Tennessee Gas Pipeline and 50% of El Paso Natural Gas Pipeline for Approximately $6.22 Billion
Kinder Morgan Energy Partners, L.P. (NYSE: KMP), today announced that it will acquire 100 percent of Tennessee Gas Pipeline (TGP) and a 50 percent interest in El Paso Natural Gas (EPNG) pipeline from Kinder Morgan, Inc. (NYSE: KMI) for approximately $6.22 billion, including about $1.8 billion in assumed debt at TGP and approximately $560 million of proportional debt at EPNG. The transaction, which is expected to close this month and be effective Aug. 1, was approved by the independent members of the boards of directors of both KMI and Kinder Morgan Management, LLC (NYSE: KMR) following the receipt by each board of separate fairness opinions from different investment banks.

Kinder Morgan and BP North America Enter into Long-Term Agreements
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) and BP North America (NYSE: BP) today announced the execution of long-term commercial agreements to provide BP condensate processing services and storage at Kinder Morgan’s terminals located on the Houston Ship Channel.

Trans Mountain Files Toll Application with National Energy Board for Proposed Expansion Project
Trans Mountain Pipeline ULC (Trans Mountain), operated by Kinder Morgan Canada and owned by Kinder Morgan Energy Partners, L.P. (NYSE: KMP), today filed an application for National Energy Board (NEB) approval of the contract terms and toll structure that would be implemented on the company's proposed Trans Mountain expansion project.

Kinder Morgan’s Crude/Condensate Pipeline in Service
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced its Kinder Morgan crude/condensate pipeline (KMCC) is in service and available to transport volumes to the Houston Ship Channel. The approximately $215 million pipeline is supported by long-term contractual commitments and has a capacity of 300,000 bpd. The pipeline, which is comprised of 65 miles of new-build construction and 113 miles of converted natural gas pipeline, originates in the Eagle Ford Shale and delivers crude/condensate to multiple terminaling facilities that provide access to local refineries, petrochemical plants and docks on the Texas Gulf Coast. Including joint ventures and other projects, KMP's planned investments related to the Eagle Ford Shale now total more than $800 million.

Trans Mountain Finalizes Shipper Commitments for Pipeline Expansion
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced that shippers have signed binding 20-year contracts for approximately 510,000 barrels per day (bpd) of capacity in support of expanding the pipeline system. Based on these finalized commitments, the proposed expansion will increase capacity on Trans Mountain from approximately 300,000 bpd to about 750,000 bpd at a projected cost of $4.1 billion.

Pony Express Open Season Announcement
Kinder Morgan Pony Express Pipeline LLC ("Pony Express") and Belle Fourche Pipeline Company ("BFPL") today announced an Open Season soliciting shipper commitments for crude oil transportation service from a point near Baker, Montana ("Origin") to delivery points at Ponca City, Oklahoma and Cushing, Oklahoma ("Destinations").

Kinder Morgan Announces Binding Open Season to Move Light Condensate on Cochin
inder Morgan Energy Partners, L.P. (NYSE: KMP), today announced the launch of a binding open season to solicit market interest for its Cochin Reversal Project, which would enable the company to offer a new service to move light condensate from Kankakee County, Ill., to existing terminal facilities near Fort Saskatchewan, Alberta, Canada. The project involves Kinder Morgan modifying the western leg of its Cochin Pipeline to connect to the Explorer Pipeline Company in Kankakee County and to reverse the product flow to move the condensate northwest to Fort Saskatchewan. Subject to shipper support, timely regulatory approvals and necessary capital improvements, light condensate shipments could begin on July 1, 2014. The project will provide approximately 75,000 barrels per day of light condensate capacity on Cochin, providing a new source of supply to meet the growing demand for diluent.

CB&I Announces Storage Award in Canada
CB&I (NYSE:CBI) announced today that it has been awarded a contract, valued in excess of US$55 million, by http://abarrelfull.wikidot.com/trans-mountain-pipeline [Trans Mountain Pipeline ULC] operated by a subsidiary of a Canadian subsidiary of Kinder Morgan. The scope of the contract includes the design, fabrication and construction of storage tanks and associated works for the Trans Mountain Pipeline ULC's terminal located in Sherwood Park, Alberta, Canada. The project is scheduled for completion in 2013. This is a first quarter 2012 award.

Trans Mountain Expansion Receives Strong Binding Commercial Support
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced it will proceed with its proposed plans to expand the existing Trans Mountain pipeline system following the receipt of strong binding commitments through the recently concluded open season. A diverse group of existing and new shippers submitted 660,000 barrels per day (bpd) of binding commercial support for the open season. All commitments are for a 20-year term. When completed, the proposed expansion will increase capacity on Trans Mountain from the existing capacity of 300,000 bpd to 850,000 bpd.

Kinder Morgan to Further Increase Storage Capacity at Edmonton Terminal
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced that Kinder Morgan Canada Terminals has entered into a long-term contract with a major Canadian producer to support the construction of an additional 1.2 million barrels of merchant storage capacity at Trans Mountain pipeline's Edmonton terminal in Strathcona County, Alberta. Kinder Morgan previously announced in November 2011 that it had signed definitive commercial agreements to support the construction of 2.4 million barrels of storage at the Edmonton facility. The total value of the current expansion now totals $284 million with all 3.6 million barrels of storage capacity expected to be in service by late 2013.