Year in Review: Kinder Morgan Expects 2013 Investment spree to Continue in 2014
12.27.2013 - NEWS

December 27, 2013 [Biz Journals] - Kinder Morgan Inc. made its mark on 2013 with billion-dollar deals, major infrastructure investments and executive leadership changes.


Although the company acquired El Paso Corp. in 2012 for $38 billion (including the assumption of debt), it continued to reap the benefits of the buy throughout the year. It also scooped up Copano Energy for $3.2 billion in January.

The company inked a deal in March with BP North America for $170 million, almost doubling its previously announced $200 million investment in the petroleum condensate processing facility it’s building near the Galena Park terminal on the Houston Ship Channel.

Then it continued to add more multimillion-dollar investments to the project throughout the year, as well.

Kinder Morgan also made several investments in Eagle Ford pipeline, strengthening its position in the south Texas shale play.

Meanwhile, President C. Park Shaper told investors in January that he would be stepping down at the end of March to spend more time with family. Executive Vice President and COO Steve Kean became president and COO of the company March 31.

Most recently, Kinder Morgan said it will purchase American Petroleum Tankers and State Class Tankers for $962 million in cash. With the acquisition, Kinder Morgan will add new maritime tanker service, and it will own tankers that transport crude oil, condensate and refined products for U.S. domestic trade.

In the company’s third quarter earnings statement, Chairman and CEO Rich Kinder promised that the investment spree won’t stop in 2013.

“We continue to see robust growth opportunities across all of our business segments and currently have identified approximately $13.3 billion in expansion and joint venture investments at KMP that we are confident will come to fruition,” he said in the statement.

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