Kinder Morgan Expands Natural Gas Infrastructure Backlog to $14.4 Billion
During its third-quarter 2026 earnings call, Kinder Morgan (KMI) announced a significant expansion of its natural gas network, adding $5.4 billion in new infrastructure projects. This investment brings the company's total project backlog to a record high of $14.4 billion. The growth is driven by rising demand for natural gas in electric power generation and export facilities. The company's strategy relies on 20-year 'take-or-pay' contracts with investment-grade utilities, ensuring predictable cash flow through at least 2032. Management highlighted that the expansion is largely self-funded through approximately $3 billion in annual cash flow available for growth capital, allowing the firm to maintain a disciplined leverage ratio of approximately 3.5x while targeting increased EBITDA and earnings per share.
Tickers: $KMI
Topics: Cash Flow Growth Energy Sector Natural Gas Infrastructure Project Backlog
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