Kinder Morgan Energy gets new deals with Calpine
Kinder Morgan Energy Partners gets new transport and storage deals with Calpine, no terms
HOUSTON (AP) -- Kinder Morgan Energy Partners LP said Monday that it reached new and extended long-term transportation and storage agreements with Calpine Energy Services LP.
Financial terms were not disclosed.
Under the agreements, the Houston-based pipeline company will provide up to 450,000 dekatherms per day of firm transportation service along with 5 billion cubic feet of storage capacity to serve nine of Calpine's electric generation facilities in Texas.
The new agreements represent an increase of 150,000 dekatherms per day of transport and 1 billion cubic feet of storage over the previous deals between the two companies. Kinder Morgan also said it will invest about $30 million to extend its Texas intrastate pipeline system to a Calpine generating station in Hidalgo County.
Kinder Morgan's common units fell 48 cents to $87.90, while Calpine shares rose 8 cents to $20.05 in afternoon trading.
