Dec 20, 2024 (MarketLine via COMTEX) --
The Mississippi Crossing Project (MSX Project), costing around $1.4bn, is designed to transport up to 1.5 billion cubic feet per day of natural gas.
Tennessee Gas Pipeline, a subsidiary of Kinder Morgan, has confirmed its final investment decision to proceed with the MSX Project in the US.
The announcement comes after the company secured long-term, binding transportation agreements with customers for the entire capacity of the project.
Natural Gas Pipelines president Sital Mody said: aEURoeThis transformative project will benefit the south-east region as it will provide incremental access to diverse sources of supply.
aEURoeThe additional supply will help satisfy growing energy demand and lower energy costs, allowing power generators and other energy suppliers in the region to attract new residential, commercial and industrial opportunities.
aEURoeWe are in final discussions with customers for up to an additional 0.4 billion cubic feet per day (bcf/d) of long-term commitments, which would require additional capital for incremental horsepower.aEUR
The MSX project, with an estimated cost of approximately $1.4bn, is designed to transport up to 1.5bcf/d of natural gas.
It primarily involves the construction of nearly 206 miles of 42in and 36in pipeline, along with two new compressor stations.
The project will begin near Greenville, Mississippi, and conclude near Butler, Alabama.
It includes connections to the existing Tennessee gas pipeline system and third-party pipelines, providing critical supply access sourced from multiple supply basins.
The Mississippi Crossing project is expected to be in service by November 2028, pending the receipt of all required permits and clearances.
Kinder Morgan CEO Kim Dang said: aEURoeThe fundamentals in the natural gas market are robust, with significant growth expected over the next five years from LNG [liquefied natural gas] exports, exports to Mexico and power generation.
aEURoeWith todayaEUR(TM)s announcement, KMI has sanctioned approximately $3.1bn (KMI share) in expansion capital between the SNG South System 4 expansion and TGPaEUR(TM)s Mississippi Crossing Project. We expect to announce additional projects in the coming months.aEUR
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COMTEX_461069964/2227/2024-12-20T18:05:55
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