In 1997, Richard D. Kinder and William V. Morgan built an energy company by utilizing the master limited partnership (MLP) financial structure as a growth vehicle, something that had never been done before. KMI is now one of the largest energy infrastructure companies in North America. The company owns an interest in or operates approximately 79,000 miles of pipelines and 139 terminals and has approximately 11,000 employees across North America.
1997: A group of investors led by Executive Chairman Richard D. Kinder and former Vice Chairman William V. Morgan join forces to start Kinder Morgan Energy Partners (KMP). Based in Houston, KMP begins with a few assets, 175 employees and an enterprise value of approximately $350 million.
1999: Mr. Kinder and his management team take the reins of KN Energy, an integrated natural gas pipeline company. One of the largest assets acquired in this deal was the Natural Gas Pipeline Company of America (NGPL) system. KN Energy becomes Kinder Morgan, Inc. (NYSE: KMI), Kinder Morgan’s second publicly traded company. Today, KMI owns 37.5% of and operates NGPL.
2001: Kinder Morgan Management, LLC (NYSE: KMR), a third publicly traded Kinder Morgan company, is formed to facilitate the institutional ownership of KMP equity and its only significant assets are the partnership units it owns in KMP.
2005: In August, KMI purchases Canadian company Terasen, Inc. for approximately $5.6 billion to broaden its footprint in Canada and gain access to the oilsands via the Trans Mountain Pipeline.
2006: Mr. Kinder spearheads a management-led buyout to take KMI private and the transaction closes in May.
2011: On February 11, KMI again begins trading on the New York Stock Exchange following the largest private equity-backed initial public offering in U.S. history. The IPO issues nearly 110 million shares and raises approximately $3.3 billion.
2012: In May, KMI completes an approximately $38 billion acquisition of El Paso Corporation making KMI the largest midstream and one of the largest energy companies and natural gas network operators in North America. As part of the transaction, Kinder Morgan adds a fourth publicly traded entity to its family of companies – El Paso Pipeline Partners L.P (NYSE: EPB).
2013: In May, KMP completes an approximately $5 billion acquisition of Copano Energy, which enables the company to significantly expand its midstream services footprint and offer a wider array of services to its customers.
2014: In August, KMI acquires all of the publicly held shares/units of KMP, KMR and EPB in an approximately $76 billion transaction which closes on November 26. Kinder Morgan is now one publicly traded company with a ticker on the New York Stock Exchange of KMI.
2017: In May, KMI completes an initial public offering of Kinder Morgan Canada Limited (TSX: KML). The proceeds are used by KML to indirectly acquire an approximate 30% interest in a limited partnership from KMI that holds the Canadian business of Kinder Morgan.
2018: In August, the Government of Canada indirectly acquires the Trans Mountain Pipeline System and the Trans Mountain Expansion Project from KML through the Trans Mountain Corporation (a subsidiary of the Canada Development Investment Corporation) for a cash consideration of $4.5 billion. Following this transaction, KML still owns an interest in or operates terminals in Edmonton and Vancouver Wharves as well as the Canadian portion of the Cochin pipeline.
2019: In December, the Pembina Pipeline Corporation acquires the U.S. portion of the Cochin Pipeline and the outstanding common equity of KML, including the 70% majority voting interest held by KMI.
2021: KMI forms the Energy Transition Ventures group. Shortly thereafter, Kinetrex Energy was acquired, marking Kinder Morgan’s entry into the landfill-based Renewable Natural Gas (RNG) business.
2022: KMI celebrates its 25th anniversary.
2023: In December, KMI completes an approximately $1.815 billion acquisition of NextEra Energy Partners’ South Texas assets (STX Midstream) to serve growing LNG, industrial, Mexico export and power generation demand markets on the U.S. Gulf Coast.