Kinder Morgan has begun discussions on constructing a third natural gas pipeline in the Permian Basin, CEO Steven Kean has told investors.
“Demand to get gas out of the Permian continues to grow and the desire to unlock value that’s in oil and (natural gas liquids) continues to put pressure on need for additional takeaway capacity,” Kean said. “There is interest in pipe three.”
Kinder Morgan believes demand for gas takeaway capacity could grow by 2 billion cubic feet per day each year over the next few years, equivalent to the Houston pipeline operator’s Gulf Coast Express project.
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