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Kinder Morgan News

14 Dec 2023

DiCosimo to Chair Greater Houston Port Bureau

Vincent DiCosimo (Photo: Greater Houston Port Bureau)

The Greater Houston Port Bureau Board of Directors announced Vincent DiCosimo, vice president of government affairs at Targa Resources, will assume the position of the chairman of the board on January 1, 2024. DiCosimo has served as first vice chairman on the Port Bureau’s board for the last three years.Bernt Netland, the outgoing chairman of the Port Bureau Board said, “Vincent has been a part of the Port Bureau’s board for many years and has been active in his role as vice chair. He is an experienced and respected leader in the port region.

30 Aug 2023

Kinder Morgan Says Idalia Caused Minimal Damage to Florida Terminals

(Image: NOAA)

Kinder Morgan KMI.N on Wednesday said its Port Manatee, Port Sutton and Tampaplex terminals in Florida sustained minimal damage due to Hurricane Idalia, and that it was also planning to shut its Charleston area terminals later in the day.The U.S. energy company said it was planning to reopen the terminals on Thursday, while its Tampa facilities including the Tampa refined products terminal and Central Florida Pipeline system have resumed normal operations.The Port Manatee, Port Sutton and Tampaplex terminals handle commodities such as fertilizers…

17 Aug 2023

American Petroleum Tankers Awarded $28.5 Million MSC Charter

(Photo: Ken Wright / U.S. Navy)

Kinder Morgan's shipping arm, American Petroleum Tankers, has been awarded a $28,548,000 charter contract option for one of its MR tankers, Empire State.The U.S. Department of Defense (DOD) announced the deal earlier this week, stating the option is the third of the current contract, which includes a 12-month base period with three 12-month options and one 11-month option. If all options are exercised, work would run through July 23, 2025, and the cumulative value the deal would be $136,560,500. The 600-foot Empire State is being used in support of the U.S.

01 Jun 2022

Kinder Morgan Says Tanker Rates Gain After Ukraine Crisis

Day rates for vessels that move oil and refined products between U.S. ports rose after the United States banned Russian oil and product imports this year, Kinder Morgan Inc Chief Executive Steven Kean said on Wednesday.Pipeline and terminal operator Kinder Morgan, which owns about 16 Jones Act vessels, saw a "meaningful" uptick in demand spurred by the U.S. ban following Russia's invasion of Ukraine, Kean said at the Bernstein Annual Strategic Decisions conference.The Jones Act requires goods moved between U.S. ports to be carried by ships built domestically and staffed by U.S. crews. Kinder Morgan vessels carry crude oil, refined products and fuel blend stocks to the Mid-Atlantic and Northeast ports.Daily chartering rates were moving toward the bottom end of pre-pandemic rates of $60…

15 Jan 2021

Fuel, Propulsion, Emissions & the Decision to Scrap or Refit

BW LPG – the world’s leading owner and operator of LPG vessels – will retrofit another three MAN B&W 6G60ME-C9.2 type engines to MAN B&W 6G60ME-C9.5-LGIP dual-fuel types, capable of operating on fuel oil and LPG.
Photo: MAN ES

When the maritime history books are written, 2020 will be viewed as a year of pivots, re-invention and new paradigms. By February 2020, concerns about marine fuel’s sulfur content quickly shifted to near-term disruptions induced by the COVID-19 pandemic. By mid-year, with demand recovering, the conversation turned to longer term questions surrounding the moves towards reduced maritime carbon emissions and alternative fuels. How will this all impact the current fleet?Perhaps the most extreme reaction to the shifting landscape is the ongoing “pivot” of Scorpio Bulk (NYSE: SALT)…

08 Jul 2020

US LNG Exports at 20-month Low

(File photo: Freeport LNG)

Natural gas flows to U.S. liquefied natural gas (LNG) export plants plunged this month after falling to a 20-month low in June as coronavirus lockdowns cut global demand for the fuel.Before the pandemic slashed energy demand, U.S. producers counted on LNG exports to keep growing fast as an outlet for their record gas output. But after soaring 68% in 2019 and 53% in 2018, U.S. LNG exports were only expected to rise about 7% in 2020.Gas pipeline flows to U.S. LNG export plants dropped…

10 Jun 2020

LNG Carrier to Deliver Gas to US with European Stockpiles Near Full

A ship carrying liquefied natural gas from Nigeria is expected to drop its cargo in Georgia as energy firms look for a place to store the super-cooled fuel with prices higher in the United States and stockpiles nearing full capacity in Europe.The ship, Madrid Spirit, does not have a destination listed, according to data from Refinitiv, but is located a day or two away from Kinder Morgan Inc's Elba Island LNG plant.A unit of Royal Dutch Shell Plc chartered the ship, people familiar with the matter said.Shell, which has a long-term contract to use Elba, declined to comment.The United States, which is the world's third biggest LNG exporter behind Australia and Qatar…

07 May 2020

Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts

Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. The world's biggest LNG markets - Japan, China, South Korea, and India - are all seeing a drop in demand. Asia's spot LNG prices dropped to $1.85 per million British thermal units (mmBtu) last week, the lowest ever, as cargoes have flooded the market. "At prices in the $2/mmBtu range ... some producers are getting close to not recovering cash costs of their operations.

17 Oct 2019

Kinder Morgan's Elba Island LNG up by mid-2020: CEO

Kinder Morgan's Elba Island facility (CREDIT: Kinder Morgan)

Kinder Morgan expects to bring the remaining nine units of its liquefied natural gas (LNG) export facility at Elba Island into service by the first half of next year, Chief Executive Officer Steven Kean said on Wednesday.The first unit of Kinder Morgan's Elba Island facility began producing LNG natural gas for export last month, and is one of several new U.S. projects adding to global supplies.The Houston pipeline operator plans to bring three more into service this year, with another six to start up in the first half of 2020…

03 Oct 2019

Elba Island LNG Production to Start for Kinder Morgan

Photo: Kinder Morgan

U.S. regulators approved Kinder Morgan's request to start production of liquefied natural gas at the first plant of its new export facility, a year after it had been originally due to begin operations, filings showed this week.The Elba Island facility is one of half a dozen in the country beginning to produce LNG for export, contributing to soaring supplies of fuel globally which has upended gas markets in Europe and Asia.It is also quite unusual among U.S. facilities, employing modular technology to build much smaller "trains…

18 Sep 2019

Next Wave of U.S. LNG Export Projects to be Tougher

Photo courtesy of Venture Global LNG

The next wave of U.S. liquefied natural gas (LNG) export projects will be “tougher” to bring online, as companies with existing facilities take advantage of lower costs to expand capacity in coming years, the chief executive of Blackstone Group said on Wednesday.Blackstone CEO David Foley said at the Gastech Energy Conference in Houston that only one or two new startup projects may reach a final investment decision (FID) in the next wave of U.S. LNG export projects.“In terms of liquefaction capacity that gets FID from the U.S.…

04 Sep 2019

GA LNG Terminal Evacuated Ahead of Dorian

Kinder Morgan's Elba Island LNG Export Terminal (CREDIT: Kinder Morgan)

Kinder Morgan Inc has halted the startup process of its liquefaction facility at Elba Island near Savannah, Georgia, following mandatory evacuation orders as Hurricane Dorian approached, Chief Executive Officer Steven Kean said on Wednesday.The Houston pipeline operator began construction on the $2 billion facility in late 2016, underpinned by a 20-year contract with Royal Dutch Shell Plc for exports of U.S. liquefied natural gas (LNG).The company will resume startup operations at the LNG plant when workers can safely return to the island…

16 Aug 2019

Kinder Morgan Invest $170Mln in Houston Ship Channel

Houston pipeline operator Kinder Morgan (KMI) plans to invest $170 million in various expansion projects along the Houston Ship Channel.The investment will increase efficiency, add product liquidity, and enhance blending capabilities at its Pasadena and Galena Park terminals, part of its best-in-class refined products storage hub on the Houston Ship Channel, said the energy infrastructure company in North America.In response to growing customer demand, KMI’s liquids terminal platform now boasts 10 ship docks, 38 barge spots, 20 inbound pipelines providing connectivity to 10 regional refineries and chemical plants, 15 outbound pipelines…

28 Mar 2019

Tanker Bottleneck Eases for Port of Houston

The sprawling Houston area refining complex adjacent to the Houston Ship Channel. CREDIT: AdobeStock / © Irina K)

Four tankers on Thursday were preparing to offload or pick up cargoes in the busiest U.S. oil port, the first signs of an easing of the bottleneck that cut 1 million barrels per day of shipments, according to vessel tracking data.The Houston Ship Channel reopened this week with operating restrictions following a fire at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) in Deer Park, Texas. That blaze sent fuel and chemicals into the waterway, which connects Houston to the…

26 Mar 2019

Kinder Morgan quits Crude Export Venture

Kinder Morgan Inc has dropped out of a recently proposed U.S. Gulf Coast deepwater crude export venture, the project's leader Enbridge Inc said on Monday.The $800 million project, known as Texas COLT, is one of eight similar projects proposing facilities that would move U.S. shale to overseas markets by loading supertankers able to carry up to 2 million barrels apiece.Pipeline operators Enbridge and Kinder Morgan disclosed plans to build an crude export terminal off Freeport, Texas, in January, and filed permit applications with the U.S. Maritime Administration. German oil storage firm Oiltanking Partners remains committed to the project, said Enbridge."The project does not align with our strategic priorities," Kinder Morgan spokeswoman Lexey Long said.

22 Feb 2019

Regulator: Expand Pipeline, Protect Killer Whales

© Wesley/AdobeStock

Canada's National Energy Board (NEB) regulator recommended on Friday that Ottawa approve expansion of the government-owned Trans Mountain oil pipeline, but made new, nonbinding recommendations to mitigate harm to Pacific Ocean killer whales and the environment.The pipeline is in the national interest as it will create jobs and give Canadian oil access to more markets, the NEB said in a report. But expanding it is likely to significantly harm the killer whale population off the coast of British Columbia and increase greenhouse gas emissions from ships…

10 Jan 2019

US Oil Export Boom Sparks Battle to Build Texas Ports

© Robert Coy / Adobe Stock

Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…

18 Sep 2018

China LNG Tariff Casts Shadow Over New US Export Terminals

© vladsv / Adobe Stock

China set a 10 percent tariff on U.S. liquefied natural gas (LNG) imports, extending a trade dispute into energy and casting a shadow over U.S. export terminals that would propel the United States into the world's second-largest LNG seller.Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.The rate was smaller than the 25 percent tariff China had touted earlier, which offered some relief and helped shares in listed U.S.

18 Jul 2018

Largest Oil Shipment Sent from Vancouver to China Since 2015

An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show.For years, Canadian officials have pushed for an escalation in crude exports to rapidly growing Asian markets, but companies in the oil-rich Alberta have limited capacity to move crude to the nation's western coastline.That makes Canadian crude exports from Vancouver to Asia rare, but shipments have picked up in recent months, with oil tankers to China, Thailand and South Korea departing in April and July. Most of the crude shipped from Vancouver - which has limited export capacity - is carried to the U.S.

17 Jul 2018

Philly Shipyard Looks to End Order Drought

(Photo: Philly Shipyard, Inc)

Philly Shipyard said it is in the early stages of potentially securing an order to build two Jones Act compliant medium range (MR) product tankers for an undisclosed buyer.The U.S. shipbuilder revealed in its second quarter report that it has executed a nonbinding Term Sheet with a potential customer for the construction of two newbuild 50,000 DWT tankers for targeted deliveries in Q4 2020 and Q1 2021.In order to support the delivery timetable, the Aker-backed shipyard has initiated preliminary design work for the tankers.

01 Mar 2018

Trump's Steel Import Tariffs May Hurt US LNG Exports

© Wojciech Wrzesień / Adobe Stock

U.S. natural gas trade groups said on Thursday they are concerned that new U.S. steel import tariffs could delay or reduce new pipeline projects as well as dent exports of liquefied natural gas. U.S. President Donald Trump said on Thursday the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week. The type of pipe and the steel used to make large diameter, thick-walled pipe used for interstate natural gas pipeline projects are niche products that are not available off the shelf or even from a wide variety of manufacturers…

16 Feb 2018

Philly Shipyard Order Backlog Touches USD 187.7 mln

As of 31 December 2017, Philly Shipyard had an order backlog of USD 187.7 million. The contract with Matson (Hulls 029-030) provides for shipbuilding activity with delivery dates through Q1 2019. On 20 November 2017, Philly Shipyard delivered Hull 028, the final product tanker in the four-ship order for Philly Tankers, a Jones Act shipping company that is majority-owned (but not controlled) by Philly Shipyard. This vessel was delivered to Kinder Morgan, as assignee of Philly Tankers, ten days before its contract delivery date. At the end of the fourth quarter of 2017, Philly Shipyard was building two containerships under contract with Matson (Hulls 029-030). During Q4 2017, the main engine was installed on Hull 029 and production activities continued on Hull 030.

05 Feb 2018

Next-wave LNG Terminals get Smaller, More Flexible

The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector's next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter, more flexible contracts. LNG export terminals, where the gas is liquefied and put on vessels for shipping, have traditionally been massive, custom-built facilities that cost tens of billions of dollars. And so to justify the investment, they have typically required equally massive, long-term supply deals, often lasting a decade or more. Numerous terminal projects on the horizon, by contrast…