HOUSTON--(BUSINESS WIRE)--The Elba Liquefaction Company, L.L.C. (ELC), a joint venture between Kinder Morgan, Inc. (NYSE: KMI) and EIG Global Energy Partners (EIG), announced today the commercial in-service of Unit 7, the last of 10 Movable Modular Liquefaction units of the approximately $2 billion Elba Liquefaction project. Previously only a liquefied natural gas (LNG) import terminal, the Elba Island Liquefaction facility is now also producing LNG for export purposes.
“The development of this facility was a tremendous undertaking, and we are extremely pleased to have this project in service,” said Kinder Morgan Natural Gas East Region President Kimberly Watson. “The team coordinated with our customer and local, state and federal agencies to put in service a new technology for modular liquefaction units. Its functionality as a bi-directional import/export facility makes it ideal for the changing flow patterns that can occur from time to time.”
Now in full commercial operation, the Elba Island Liquefaction facility has a total capacity of approximately 2.5 million tonnes per year of LNG for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas.
ELC, a KMI joint venture with EIG as a 49 percent partner, owns the liquefaction units and other ancillary equipment. Certain other facilities associated with the project are 100 percent owned by KMI. The project is supported by a 20-year contract with Shell LNG NA, LLC, who is subscribed to 100 percent of the liquefaction capacity.
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 people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 147 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel chemicals, ethanol, metals and petroleum coke. For more information, please visit www.kindermorgan.com.
EIG is a leading institutional investor to the global energy sector with $22.9 billion under management as of June 30, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 38-year history, EIG has committed over $34.2 billion to the energy sector through more than 360 projects or companies in 36 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.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 the anticipated benefits of the Elba Island Liquefaction facility and expectations regarding energy imports and exports. 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 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) 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, 2019, its Quarterly Reports on Form 10-Q for the three-month periods ended March 31, 2020 and June 30, 2020 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. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.