SEATTLE (Oil Monster): Kinder Morgan stated that the company hopes to witness significant earnings growth in 2023. The company expects stellar full-year earnings during the current year as well.
The Houston-based energy infrastructure company expects its earnings to hit $1.12 per share in 2022, mainly driven by boosted natural gas demand and elevated prices for the commodity. It expects similar earnings in full year 2023 as well. It must be noted that the company had reported earnings of 78 cents per share in 2021.
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Steve Kean, CEO, Kinder Morgan noted that it expects 2023 to be another good year for the company. The market fundamentals continue to remain strong, supported by robust domestic demand as well as projected surge in U.S. exports of LNG. This could push the prices to new heights during peak demand seasons next year and beyond, Kean added.
Kinder Morgan foresees strong growth in transportation of oil from the U.S. to Mexico via pipeline. It has already entered into contract for transportation of 4 Bcf/d of natural gas through this channel. The U.S. net pipeline exports to Mexico are projected to reach 9 Bcf/d by 2030, as compared with the current levels of 6 Bcf/d.
Also, the European region is expected to drive demand for U.S. exports of liquefied natural gas.
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