- Kinder Morgan, Inc. (NYSE:KMI) plans to expand the working gas storage capacity at its Markham Storage facility to provide electric service to over one million homes in Texas.
- The facility is located in Matagorda County along the Texas Gulf Coast.
- “We are pleased to increase our natural gas storage solutions to further support Texas customers, particularly during severe weather events,” said KMI Natural Gas Midstream President Tom Dender.
- This expansion will provide the much-needed capacity boost to supply gas-fired electric generation facilities within the Electric Reliability Council of Texas.
- Under the expansion program, Kinder Morgan has reached an agreement with Underground Services Markham, a Texas Brine Company LLC subsidiary.
- The agreement is for leasing an additional cavern at Markham to provide more than 6 billion cubic feet (Bcf) of incremental working gas storage capacity and 650 million cubic feet per day (MMcf/d) of incremental withdrawal capacity on KMI’s extensive Texas intrastate pipeline system.
- Price Action: KMI shares are trading flat at $16.11 on the last check Thursday.
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