KMI's Power & LNG Backlog Signals a New Gas Infrastructure Cycle
Article excerpt
Kinder Morgan, Inc. KMI is entering a growth phase shaped by electricity demand, liquefied natural gas development and utility needs rather than a simple commodity-price upswing. The company’s opportunity centers on contracted infrastructure. Long-term agreements remain the bridge between supply basins and demand centers that need reliable natural gas transportation and storage. KMI Gains From Power and Utility Demand Kinder Morgan’s project backlog stood at $9.6 billion at the end of the second quarter of 2026. Natural gas projects accounted for about 92% of that backlog, keeping the company’s growth agenda focused on its largest infrastructure franchise. More than 60% of the backlog supports power generation and local distribution company demand. That mix gives KMI a longer-duration channel tied to electric reliability, population growth and the need for additional gas-fired generation. KMI’s theme overlaps with other midstream names. The Williams Companies, Inc. WMB offers investors another way to evaluate natural gas infrastructure exposure, while ONEOK, Inc. OKE brings a broader midstream mix that includes natural gas liquids, gas gathering and processing, pipelines and refined products. Kinder Morgan Targets Data Center Growth The Amarillo Expansion shows how digital infrastructure is becoming part of the gas-transportation story. Natural Gas Pipeline Company of...
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Kinder Morgan is also developing projects to serve roughly 3 billion cubic feet per day of additional liquefied natural gas demand.
