Kinder Morgan Boosts Working Storage Capacity On Its Texas Intrastate System

Kinder Morgan, Inc. 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.