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Kinder Morgan Energy Partners (KMP) Completes Louisiana Pipeline Project

June 22, 2009 12:52 PM EDT
KMP Hot Sheet
Overall Analyst Rating:
    NEUTRAL (Down Down)

Dividend Yield: 5.8%
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced that the 133-mile Kinder Morgan Louisiana Pipeline project has been completed and commenced service on Sunday, June 21. The 42-inch diameter line will transport natural gas to multiple pipelines from the Cheniere Sabine Pass liquefied natural gas terminal located in Cameron Parish, La. All of the 3.2 billion cubic feet per day of capacity on the pipeline is subscribed by Chevron (NYSE: CVX) and Total (NYSE: TOT) under 20-year contracts.

Kinder Morgan Energy Partners, L.P. owns and manages energy transportation and storage assets in North America.[SM]

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