Kinder Morgan Energy Partners
Kinder Morgan Energy Partners LP (
History
Kinder Morgan Energy Partners LP, headquartered at One
Kinder Morgan is credited for bucking the trend in MLPs that traditionally deliver low double-digit total return to investors.[1] It has produced a 26 percent compound growth rate from its founding to May 2009.[1]
On March 1, 2002, Shares of Kinder Morgan Inc., fell to a 15-month low on concern that the company faced competition for assets and on investor wariness about its partnership arrangements.[4] On March 1, 2002, Nova Chemicals Corp. sold its 20-per-cent share of the Cochin pipeline, and the sale, for $64 million (U.S.), is subject to right of first refusal by the other Cochin owners, which include subsidiaries of Kinder Morgan Energy Partners LP.[5]
In May 2013, the company acquired
Regulatory oversight
The majority of its pipelines fall under the regulatory oversight of the U.S. Department of Transportation. The company maintains a safety record and follows many regulations and procedures to monitor and ensure the integrity of its pipelines[citation needed], despite involvement in numerous accidents as outlined below. Interstate natural gas pipelines are subject to the rate and facility regulation of the Federal Energy Regulatory Commission under the Natural Gas Act.[10]
Facilities
- Calnev Pipeline (Hazardous Liquids)[11]
- Central Florida Pipeline (Hazardous Liquids)[11]
- Cypress Pipeline System (Hazardous Liquids)[11]
- Plantation Pipe Line (Hazardous Liquids)[11]
- Portland Jet Line[12]
- Rockies Express-West Pipeline (Gas Transmission)[11]
Accidents
Pipelines operated by this company have failed throughout the United States.[13]
Suisun Marsh diesel spill
On April 28, 2004, a
Walnut Creek gasoline fire
On November 9, 2004 in
On September 22, 2007, KMGP was convicted on six felony charges related to the Walnut Creek Explosion. They were fined $15 million in connection with the case.[21][22][23] Over $90 million in legal settlements were paid to the various victims of the explosion.[24]
Burnaby crude oil spill
On July 24, 2007, a
The
Burnaby Mountain oil spill
On May 6, 2009, a contractor discovered that oil was leaking from one of the tanks Kinder Morgan's Burnaby Mountain terminal. In total, almost 1,700 barrels of crude oil were spilled. Fire and HazMat teams were called to the scene and contained the spill.[30]
Abbotsford oil spill
On January 24, 2012, an oil spill was discovered at Kinder Morgan's Sumas terminal in Abbotsford. Local residents began reporting a strong gas-like smell coming from the area as early as 4:30 a.m. The spill was reported to be limited to a "containment area."[31]
References
- ^ ISBN 978-0-470-24367-1.
- ISBN 1-59139-123-7.
- ^ Noon, Chris. "Kinder To Buy Company He Co-Founded". Forbes. Archived from the original on January 24, 2013.
- ^ "COMPANY NEWS;CONCERNS ON COMPETITION HURT KINDER MORGAN SHARES".
- ^ "Nova selling stake in Cochin pipeline".
- ^ "Acquisition for Copnano. Google Finance. 2014/1/26".
- ^ "Pipeline King Kinder rakes in $1.5 bn in one day". Houston Mirror. 11 August 2014. Retrieved 13 August 2014.
- ^ "Kinder Morgan Announces Closing of the Merger Transactions". 26 November 2014. Archived from the original on 11 December 2014.
- ISBN 978-0-12-415820-7.
- ^ "FERC: Natural Gas Pipelines". www.ferc.gov. Retrieved 2020-06-01.
- ^ a b c d e Pipeline Operator Information, Pipeline and Hazardous Materials Safety Administration (PHMSA), U.S. Department of Transportation, http://primis.phmsa.dot.gov/comm/reports/operator/Operatorlist.html, accessed June 22, 2014.
- ^ "KINDER MORGAN PORTLAND JET LINE LLC TRANSPORTATION POLICY". kindermorgan.com. 1 July 2022. Retrieved 15 February 2023.
Kinder Morgan Portland Jet Line LLC ("Carrier") owns and operates an intrastate pipeline originating at Kinder Morgan's Willbridge Terminal in Multnomah County, Oregon to Portland International Airport in Multnomah County, Oregon.
- ^ Nuttall, Jeremy J. (23 August 2005). "Kinder Morgan Marked by Spills - The Tyee".
- ^ "Breaking News".
- ^ "San Francisco Bay Watershed".
- ^ "WALNUT CREEK / 3rd worker in fuel blast dies / Rescuers face perilous search for 2 workers missing, feared dead inside water pipe". 2004-11-11.
- ^ Officials Dole Out Fines In Fatal Pipeline Explosion Archived 2005-11-06 at the Wayback Machine
- ^ "IR #2005-20". www.dir.ca.gov.
- ^ California, State of. "CAL FIRE - Home" (PDF). www.osfm.fire.ca.gov.
- ^ Cole, August. "Kinder Morgan reaches safety deal".
- ^ "Verdicts & Settlements - Boxer & Gerson Attorneys at Law, LLP".
- ^ "Energy firm convicted in Walnut Creek pipeline blast that killed 5". 2007-09-21.
- ^ "California Pipeline Explosion Verdict: $10.65 Million - Bay Area Lawyers". 20 April 2009.
- ^ Victims Have Rights in the San Bruno Explosion Archived 2010-09-23 at the Wayback Machine
- ^ a b British Columbia Ministry of Environment. Burnaby Oil Spill. Retrieved on: February 8, 2017.
- ^ Vancouver Sun (July 25, 2007). Huge Burnaby Oil Spill. Retrieved on: February 8, 2017.
- ^ CBC News ( July 24, 2007). Cleanup continues on B.C. oil spill. Retrieved on: February 8, 2017.
- ^ a b CBC News (March 18, 2009). Transportation Safety Board releases report on Burnaby oil spill. Retrieved on: February 8, 2017.
- ^ CBC News (October 3, 2011). 3 Companies plead guilty to Burnaby oil spill. Retrieved on: February 8, 2017.
- ^ Darcy Wintonyk (May 7, 2009). Major oil spill at Kinder Morgan B.C. facility. CTV News.
- ^ Andrea Woo (April 3, 2012). Oil spill at Abbotsford tank farm raises concerns over pipeline expansion. Vancouver Sun. Retrieved on: 2012-04-23.
External links
Kinder Morgan information
- Kinder Morgan website
- Kinder Morgan Canada
- Terasen Gas
- Kinder Morgan Energy Partners listing in Hoover's