Kinder Morgan Energy announces gas pipeline

By Associated Press
June 22, 2009 | Comments (0)

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Kinder Morgan Energy Partners L.P. said Monday a natural gas pipeline in Louisiana has begun operating.

The 133-mile Kinder Morgan Louisiana Pipeline will transport natural gas to other pipelines from the Cheniere Sabine Pass liquefied natural gas terminal in Cameron Parish, La.

The pipeline's 3.2 billion cubic feet of daily capacity is subscribed by Chevron and Total, the French energy company, under 20-year contracts.

Steve Kean, president of Kinder Morgan's natural gas pipelines group, said it's the first of three large natural gas pipeline projects expected to be completed this year.

Shares of the Houston-based company fell $1, or 2 percent, to $49.02 in afternoon trading as the broader markets slipped.

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