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Tennessee Gas Pipeline Receives FERC Approval for Producer Certified Gas Pooling Service Proposal
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Rhea-AI Summary
Tennessee Gas Pipeline Company, a subsidiary of Kinder Morgan (NYSE: KMI), has received approval from FERC for its producer certified gas (PCG) aggregation pooling service. This service, now available at all TGP pooling points, allows for the buying and selling of responsibly sourced gas, enhancing market transparency and liquidity. With certifications from third-party organizations, TGP aims to meet rising demand for PCG as it becomes a preferred fuel source. The company plans to continue refining the service to align with evolving regulations and market needs.
Positive
Approval of PCG aggregation pooling service enhances market position.
Service allows for increased transparency and liquidity for responsibly sourced gas.
Growing demand anticipated as producers become certified.
Negative
None.
First pipeline system to implement PCG aggregation pooling service
HOUSTON--(BUSINESS WIRE)--
Tennessee Gas Pipeline Company, L.L.C. (TGP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI) today received approval for its producer certified gas (PCG), or responsibly sourced gas (RSG), aggregation pooling service from the Federal Energy Regulatory Commission (FERC). The PCG aggregation pooling service is now available at all pooling points across the TGP system. PCG is conventional natural gas sourced from production facilities that have been certified by a qualified third party to meet certain environmental, social and governance standards that typically focus on management practices for methane emissions, water usage and community relations. The service is designed to enable shippers on TGP to purchase and sell PCG supply at non-physical pooling locations, ultimately serving end-users, utilities, power plants and LNG facilities connected to the TGP system.
“After working closely with producers and customers, we are pleased to offer a PCG aggregation pooling service that meets their needs as they exist today,” said TGP’s Vice President of Commercial Ernesto Ochoa. “We believe this positions TGP as a leader in the energy transition because this service facilitates greater transparency and liquidity into markets for this important, lower-emissions energy source.”
Parties who have obtained certifications from qualified third-party organizations are supplying the PCG needed for the pooling service, and the supply is expected to grow as PCG becomes the fuel of choice among customers. TGP plans to continue working with producers and customers to refine this service as regulations and markets evolve.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines, 141 terminals, and 700 billion cubic feet of working natural gas storage capacity. Our pipelines transport natural gas, refined petroleum products, renewable fuels, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, renewable fuel feedstock, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning demand for PCG and the anticipated timing and benefits of the proposed PCG pooling program. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2021 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com.
What is the recently approved service by Kinder Morgan (KMI)?
Kinder Morgan's Tennessee Gas Pipeline Company has received FERC approval for a producer certified gas (PCG) aggregation pooling service.
What are the benefits of the PCG aggregation pooling service for KMI shareholders?
The PCG aggregation pooling service is expected to enhance market transparency and liquidity, potentially increasing demand and revenues for Kinder Morgan.
When was the PCG aggregation pooling service approved for Kinder Morgan (KMI)?
The PCG aggregation pooling service was approved by FERC, as announced in the recent press release.
How does the PCG service improve Kinder Morgan's market position?
The service positions Kinder Morgan as a leader in the energy transition by facilitating access to lower-emissions gas in the market.
