Kinder Morgan makes hay

摘要

Kinder Morgan Energy Partners (KMP) reported revenues of $12.5bn for 2013, 38.7 per cent up on the $9.0bn recorded in 2012. Net income rose from $1.40bn to $3.32bn. Earnings from KMP's terminals sector rose 20 per cent to $853m, with overall liquids capacity utilisation rising from 92.8 per cent in 2012 to 94.5 per cent. "Growth in this segment versus both the fourth quarter and full year of 2012 was almost all organic and was driven by higher earnings from our liquids facilities along the Houston Ship Channel (reflecting new and restructured contracts with higher rates and expansion projects coming online), an increase in export coal revenue (primarily from expansions at our IMT terminal in Louisiana), and incremental earnings from the BP Whiting and Edmonton Terminal expansions," says Richard D Kinder, chairman/ CEO.