Pipeline operator Kinder Morgan posts higher second-quarter profit
Pipeline operators such as Kinder Morgan are banking on a rise in demand for natural gas from LNG export facilities as well as for electricity associated with AI operations, cryptocurrency mining and data centers.
The United States was the largest exporter of LNG in 2024, with 11.9 billion cubic feet per day of LNG leaving its export terminals throughout the year.
Exports of the superchilled gas are expected to increase even further, as new terminals come online after President Donald Trump lifted a pause on new permits in January.
The company said it transported about 44,585 billion British thermal units per day (BBtu/d) of natural gas in the repored quarter, compared with 43,123 BBtu/d last year.
Its total delivery volumes, which includes refined products such as jet fuel and diesel fuel, also rose to 2.21 million barrels per day (bpd) during the quarter ended June 30, from 2.17 million bpd last year.
The Houston, Texas-based company said its net income came in at $715 million for the three months ended June 30, compared with $575 million a year earlier.
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