Kinder Morgan, Inc. (NYSE:KMI) Wolfe Utilities, Midstream & Clean Energy Conference September 30, 2025 10:50 AM EDT
Company Participants
David Michels – VP & CFO
Conference Call Participants
Keith Stanley – Wolfe Research, LLC
Presentation
Keith Stanley
Wolfe Research, LLC
Hi, everybody. For those who don’t know me, I’m Keith Stanley. I cover Midstream here at Wolfe Research. Very happy to have David Michels, CFO, of Kinder Morgan, come join us.
We’re going to go right to Q&A. Feel free to throw up — throw in any questions, just raise your hand. I’m more than happy to throw you into the mix here.
Question-and-Answer Session
Keith Stanley
Wolfe Research, LLC
Maybe we could start, David, a lot of excitement around to gas infrastructure and a couple of different ways to play it. What would you say differentiates Kinder Morgan as it relates to positioning for LNG demand, for power demand and execution risks as well?
David Michels
VP & CFO
Okay. Well, first, thanks for having us, Keith. We’ve had a great set of meetings so far. So looking forward to the rest of the conversations we’re having.
I think the single most important factor in terms of securing additional infrastructure opportunities, a great landscape out there, great demand growth for natural gas, particularly in the U.S. But the single most important factor in terms of who is going to secure opportunities is existing network, existing assets.
And we’re fortunately positioned where we have more interstate natural gas miles of pipe in the U.S. than any other competitor. And most of the competitors out there, we have more than double their network — interstate network miles of pipe. And so we’re very well positioned. And I think that’s played out over time.
We’ve got — we touch 40% of all of the
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