Kinder Morgan Energy sets 2007 growth forecast

Kinder Morgan Energy sets 2007 growth forecast

Kinder Morgan Energy Partners LP expects to declare cash distributions of $3.44 per unit for 2007, and that the company’s growth is expected to pick up speed later that year.

“We expect to grow our distribution per unit about 6 percent in 2007, and our business units are expected to deliver solid growth of about $210 million in distributable cash flow compared to their 2006 performance,” said Richard Kinder, KMP chairman and CEO.

“Towards the end of 2007 growth at KMP is expected to accelerate. We anticipate that the fourth quarter 2007 distribution per unit will be more than 10 percent higher than the fourth quarter 2006.

“While we expect that we will continue to be able to grow the distribution per unit at KMP at about 8 percent per year over the long term, the increase in 2008 is expected to be greater than 8 percent, due mainly to the anticipated in service date of January 2008 for the western portion of the Rockies Express pipeline.”

Houston-based KM Energy Partners is owned by energy transportation, storage and distribution company Kinder Morgan Inc. .

Published December 14, 2006 by the Houston Business Journal

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