Kinder Morgan (KMI) Receives DoE Approval for Additional LNG Exports

Kinder Morgan, Inc. (NYSE:KMI) is included among the 14 Best Infrastructure Stocks to Buy Now.

Kinder Morgan, Inc. (NYSE:KMI) is one of the largest energy infrastructure companies in North America. The company has an interest in or operates approximately 78,000 miles of pipelines and 136 terminals.

Kinder Morgan, Inc. (NYSE:KMI) announced on April 3 that it had received approval from the U.S. Department of Energy to export additional LNG to non-free trade agreement countries from its Elba Island LNG plant in Georgia. The company is now authorized to export up to an additional 22% of LNG compared to its previous authorization of 130 Bcf/year.

The export authorization comes amid a global LNG supply crunch amid the US-Iran war, with American operators pulling all levers to ramp up supply as quickly as possible. The blockade on the Strait of Hormuz has choked around a fifth of the global LNG supply, and the disruptions could persist in the long run. QatarEnergy, a major player in the global LNG sector, has warned that over 12 million mtpa of its supply could remain offline for up to five years after the company’s operations were struck by an Iranian missile last month. The supply crunch has sent customers, especially those in Asia, scrambling to find alternatives.

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