Kinder Morgan Expects Additional $2.2 Billion in Expansion and Acquisition Spending in 2012
SUGAR LAND--July 20, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--Energy pipeline transportation and storagecompany Kinder Morgan Energy Partners LP (NYSE:KMP) (KMP) (Houston, Texas), whose general partner is owned by Kinder Morgan Incorporated (NYSE:KMI) (KMI) (Houston), incurred both strong benefits and high costs from recent acquisitions and major projects in the second quarter of 2012. During the quarter, KMI completed its acquisition of El Paso Corporation (NYSE:EP) (Houston) and cut a deal with Peabody Energy (NYSE:BTU) (St. Louis Missouri) in which it will invest $400 million to expand its terminal network on the Gulf Coast. Product volumes were higher in most of KMP's major segments. Net income was reported to be $153 million, a 33.48% decrease from second-quarter 2011.
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