Houston, Texas-based Kinder Morgan Energy Partners, L.P. (KMP) Wednesday reported a net income of $387.7 million for the first quarter of 2010, an increase from $281.9 million from the same quarter last year.
"KMP had a strong first quarter with all five of our business segments producing substantially higher results than in the first quarter of 2009," said Chairman and CEO Richard D. Kinder. "While we still experienced some lingering headwinds, the markets overall have improved since the first quarter last year."
Current pipeline construction products include: all phases of the Fayetteville Express Pipeline (FEP), a 42-inch, 187-mile natural gas pipeline spanning from Conway County, Arkanasa to Panola County, Mississippi; the $14 million expansion of the Huntsman Storage natural gas facility in Nebraska, expected to be completed by Nov. 1, 2010; and the Eastern Shelf Pipeline, a 10-inch, 91-mile CO2 pipeline and complementary facilities, expected to be completed in early 2011.
KMP is a leading pipeline transportation and energy storage company in North America. KMP owns an interest in or operates approximately 28,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke.