The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Brian Patrick Reynolds - UBS Investment Bank, Research Division - Analyst
: Maybe to start off a little high level on Kinder's positioning to support this 20% increase in natural gas demand by 2028 that you put
in the release. It seems like Kinder is well positioned for this growth, but we could see CapEx trend higher of that $1 billion to $2
billion range. So some of these projects that are helping debottleneck the Texas, Louisiana corridor, GCX expansion and potential
more Permian greenfield that's needed. Just kind of curious, high level, can you talk about the opportunity sets that Kinder has just
given Kinder's prior comments of looking to maintain that 50% market share around LNG supply going forward?
Question: Brian Patrick Reynolds - UBS Investment Bank, Research Division - Analyst
: Great. Maybe as my follow-up to touch on just the CapEx backlog build multiple. It's got a lot of focus over the previous few quarters.
So it seemed to trend a little bit higher this quarter with an increase of the backlog as well. So just kind of wondering if you can talk
about the moving pieces there, whether it's new projects driving it or whether the rising rate environment is having an impact on
future returns? Any color would be helpful.
Question: Tristan James Richardson - Scotiabank Global Banking and Markets, Research Division - Analyst
: I guess just given the growth you guys you're seeing in the core transport business and certainly, volumes are growing in midstream,
but as you said, volumes are a little below plan, and you guys are working on asset sales. I mean, do you see midstream continuing
to contribute less to the business maybe as a percent over time, especially as we kind of look into next year?
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OCTOBER 18, 2023 / 8:30PM, KMI.N - Q3 2023 Kinder Morgan Inc Earnings Call
Question: Tristan James Richardson - Scotiabank Global Banking and Markets, Research Division - Analyst
: Correct.
Question: Tristan James Richardson - Scotiabank Global Banking and Markets, Research Division - Analyst
: Yes.
Question: Tristan James Richardson - Scotiabank Global Banking and Markets, Research Division - Analyst
: Appreciate it. And then a quick follow-up. Just on the energy transition venture side, maybe top of the funnel, commercial activity
you're seeing around RNG maybe just a sense of overall potential capacity projects out there, particularly as you get past 2024 and
Autumn Hills comes online?
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