Kinder Morgan Energy Partners: Difference between revisions
Helenwells (talk | contribs) No edit summary |
Helenwells (talk | contribs) Updated to add current information |
||
| Line 1: | Line 1: | ||
Kinder Morgan is one of the largest energy companies in North America with approximately 43,000 miles of pipelines that transport primarily natural gas, crude oil and petroleum products; about 150 terminals that store and handle products like gasoline and coal; and over 1.1 million natural gas distribution customers. |
|||
• |
|||
Named by Fortune magazine as one of America’s Most Admired Companies, Kinder Morgan has built a company well known for openness, transparency and strong corporate governance. For example, annual budgets and environmental, health and safety performance on are posted on Kinder Morgan’s web site at (www.kindermorgan.com). |
|||
The company acquired Canada's [[British Columbia|BC-based]] [[Terasen Inc.]] on [[November 30]], [[2005]], which was subsequently renamed [[Kinder Morgan Canada Inc.|Kinder Morgan Canada]]. On May 30, 2006 it was announced that a group led by co-founder [[Richard Kinder|Richard D. Kinder]] offered to buy the company for $22 billion. Its other co-founder is [[William Morgan (businessman)|William Morgan]]. The company began in 1997 as a spinoff of some assets of [[Enron]], and now employs many former Enron employees, including former Enron whistleblower [[Jordan Mintz]]. |
|||
Chairman and CEO Richard D. Kinder, selected by Morningstar as its 2005 CEO of the Year, receives a salary of $1 a year, no bonuses, no option grants and no restricted stock. Additionally Kinder Morgan does not spend money on corporate jets, first-class airfare, sports tickets or other expensive perks. The company does however spend millions of dollars on each year is our integrity management program to ensure that all of our assets are maintained and in good operating condition |
|||
===Susuin marsh diesel spill=== |
|||
On [[April 28]], [[2004]], a decrepit [[petroleum]] [[pipeline transport|pipeline]] owned and operated by Kinder-Morgan Energy Partners ruptured, spilling an estimated 1,500 barrels (240 m²) of [[diesel]] fuel into marshes adjacent to [[Suisun Bay]]. |
|||
===Walnut Creek gasoline fire=== |
|||
[[Image:WalCrkKMFire.jpg|thumb|right|200px|Pipeline fire flames]] |
|||
[[Image:WalCrkKMFireZ.jpg|thumb|right|200px|Pipeline fire wide angle]] |
|||
On [[November 9]], [[2004]] in [[Walnut Creek, California]], a [[petroleum]] [[pipeline transport|pipeline]] carrying gasoline to [[San Jose, California|San Jose]] owned and operated by Kinder-Morgan Energy Partners (here KMEP) was struck by a [[backhoe]] used by Mountain Cascade Inc., a contractor operating in the construction of a water pipeline for the [[East Bay Municipal Utility District]]. A massive [[gasoline]] spill was subsequently ignited, likely by welders of subcontractor Matamoros Welding working inside the water pipe, resulting an explosive fireball that caused the deaths by burns of four workers and their supervisor and the severe injury of four others. Several nearby homes were ignited and one was partially destroyed. The fire burned for several hours before being brought under control by [[firefighters]] from departments throughout the central [[Contra Costa County, California|Contra Costa County]] region. Preliminary indications are that the location of the petroleum pipeline was staked out with an error of five feet by KMEP. EBMUD contract with MC specifies that "contractor shall verify location" <nowiki>[</nowiki>of the KM pipeline prior to construction (in this section)<nowiki>]</nowiki>. EBMUD had terminated the first Contractor, Modern Continental (MC) for moving too slowly, with MC pointing out the need for caution due to a previous staking error of 13 feet in another location. KM claims that it is not its responsibility to determine exactly the location of the pipeline <nowiki>[</nowiki>1<nowiki>]</nowiki>. Contrary to established procedures, KMEP had no representative on site at the time of the disaster. EBMUD denies rushing its contractors and is currently suing Modern Continental for breach of contract. Investigation by State of California authorities was completed and the results announced on May 5, 2005. CalOSHA (California Occupational Safety and Health Administration) placed principle blame on the pipeline operator (a unit of Kinder-Morgan) for failure to accurately stake out the pipeline location, with some responsibility shared by the other parties. |
|||
Further details were released in a State Senate report published June 11, 2005 and widely reported throughout the Bay Area. According to a Contra Costa Times article published June 19th, 2005 the report noted that the KMEP "line rider" (the person with primary responsibility for locating the pipeline) was unable to read blueprints. Furthermore a second line KMEP line rider had stated in response to subcontractor inquires that the pipe would be bent only where it was to go around a tree and since no tree was present there was not a bend in the pipe. (The tree had been removed prior to the construction.) KMEP continues both to deny responsibility and to press its legal appeals. |
|||
On Wednesday, July 7, 2005, the [http://osfm.fire.ca.gov/aboutus.html California State Fire Marshal] assessed a fine of $500,000 upon KMEP, the largest ever levied within the state. |
|||
Kinder Morgan is committed to public safety, protection of the environment and operation of its facilities in compliance with all applicable rules and regulations. The majority of its pipelines fall under the regulatory oversight of the U.S. Department of Transportation. The company is proud of its safety record and follows many regulations and procedures to monitor and ensure the integrity of its pipelines. |
|||
==External links== |
==External links== |
||
*[http://www.kindermorgan.com/ Kinder-Morgan web site] |
*[http://www.kindermorgan.com/ Kinder-Morgan web site] |
||
Revision as of 17:01, 10 October 2006
Kinder Morgan is one of the largest energy companies in North America with approximately 43,000 miles of pipelines that transport primarily natural gas, crude oil and petroleum products; about 150 terminals that store and handle products like gasoline and coal; and over 1.1 million natural gas distribution customers.
Named by Fortune magazine as one of America’s Most Admired Companies, Kinder Morgan has built a company well known for openness, transparency and strong corporate governance. For example, annual budgets and environmental, health and safety performance on are posted on Kinder Morgan’s web site at (www.kindermorgan.com).
Chairman and CEO Richard D. Kinder, selected by Morningstar as its 2005 CEO of the Year, receives a salary of $1 a year, no bonuses, no option grants and no restricted stock. Additionally Kinder Morgan does not spend money on corporate jets, first-class airfare, sports tickets or other expensive perks. The company does however spend millions of dollars on each year is our integrity management program to ensure that all of our assets are maintained and in good operating condition
Kinder Morgan is committed to public safety, protection of the environment and operation of its facilities in compliance with all applicable rules and regulations. The majority of its pipelines fall under the regulatory oversight of the U.S. Department of Transportation. The company is proud of its safety record and follows many regulations and procedures to monitor and ensure the integrity of its pipelines.