Kinder Continues Returning Cash to Shareholders Through Dividends, Buybacks
Kinder Morgan has exited the Texas COLT crude oil export terminal, indicating that it does not align with its strategic priorities as well as citing a lengthy permitting process. This shift confirms our expectations that the project is one of the less attractive export efforts under consideration in the midstream industry at the moment. Enbridge has agreed to purchase Kinder Morgan's stake in the project, leaving Enbridge and Oiltanking Partners (a German storage firm) as the remaining partners....Kinder Morgan is an energy infrastructure company. The company's segments are: Natural Gas Pipelines, which includes the ownership and operation of, among others, main interstate and intrastate natural gas pipeline and storage systems; Products Pipelines, which includes the refined petroleum products, crude oil and condensate pipelines; Terminals, which includes the ownership and/or operation of, among others, liquids and bulk terminal facilities; and carbon dioxide (CO2), which includes the production, transportation and marketing of CO2, ownership interests in and/or operation of oil fields and gasoline processing plants in West Texas.
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