Kinder Morgan Energy Partners LP (NYSE: KMP) has received a long-term transportation agreement from Nova Chemicals Corp. to transport ethane and ethane-propane mixtures from the prolific Utica Shale area through its previously announced Utica To Ontario Pipeline Access (UTOPIA) project, which is currently in a binding open season that began Sept. 5, 2014, and will close on Oct. 6, 2014.
As part of the UTOPIA project, Kinder Morgan Cochin will develop, construct, own and operate a 240-mile, 12-inch diameter pipeline from Harrison County, Ohio, to Kinder Morgan’s Cochin Pipeline near Riga, Mich., where the company would then move product eastward to Windsor, Ontario. UTOPIA would have an initial 50,000 barrels per day (bpd) of capacity, which is expandable to more than 75,000 bpd. The approximately $500 million pipeline project is expected to be in service by early 2018 with the receipt of timely permitting and regulatory approvals.
KMP is based in Houston.
Recommended Reading
Report: Crescent Midstream Exploring $1.3B Sale
2024-04-23 - Sources say another company is considering $1.3B acquisition for Crescent Midstream’s facilities and pipelines focused on Louisiana and the Gulf of Mexico.
Energy Transfer Announces Cash Distribution on Series I Units
2024-04-22 - Energy Transfer’s distribution will be payable May 15 to Series I unitholders of record by May 1.
Balticconnector Gas Pipeline Back in Operation After Damage
2024-04-22 - The Balticconnector subsea gas link between Estonia and Finland was severely damaged in October, hurting energy security and raising alarm bells in the wider region.
Wayangankar: Golden Era for US Natural Gas Storage – Version 2.0
2024-04-19 - While the current resurgence in gas storage is reminiscent of the 2000s —an era that saw ~400 Bcf of storage capacity additions — the market drivers providing the tailwinds today are drastically different from that cycle.