HOUSTON, Sept. 16, 2002 -- Kinder Morgan Inc., through its subsidiary Natural Gas Pipeline Company of America (NGPL), recently announced it has extended a number of firm-transportation natural gas agreements with We Energies, formerly Wisconsin Electric Power Co.
The contracts, which will initially provide up to 104,133 MMBtu per day of firm-transportation service, will give We Energies flexibility to meet the seasonal demands of its customers. The new agreements continue through March 31, 2004, and replace existing contracts that were scheduled to expire during the fourth quarter of this year.
NGPL, which is expected to contribute more than 40 percent of KMI's cash flow in 2002, is a 10,000-mile pipeline system with peak deliverability of 5.7 billion cubic feet per day. NGPL is the largest transporter of natural gas to the high-demand Chicago market and one of the largest storage operators in the country.
Kinder Morgan, Inc. is one of the largest energy transportation and storage companies in America, operating more than 35,000 miles of natural gas and products pipelines. It also has significant retail distribution, electric generation and terminal assets.
Kinder Morgan, Inc. owns the general partner interest of Kinder Morgan Energy Partners, L.P., the largest publicly traded pipeline limited partnership in the U.S. in terms of market capitalization. Combined, the two companies have an enterprise value of approximately $17 billion.
We Energies, the principal utility subsidiary of Wisconsin Energy Corp., serves more than one million electric customers and more than 970,000 natural gas customers throughout Wisconsin and Michigan's Upper Peninsula. Visit the company's Web site at http://www.we-energies.com/ . Learn about Wisconsin Energy Corp. by visiting http://www.wisconsinenergy.com/.