On Wednesday, Shares of Kinder Morgan Inc (NYSE:KMI), lost -1.18% to $37.57.
Kinder Morgan, and Shell declared that they have reached a contract for Kinder Morgan to purchase 100 percent of Shell’s equity interest in Elba Liquefaction Company, LLC (ELC), the owner of the Elba Liquefaction Project, which is projected to be constructed and operated at the existing Elba Island LNG Terminal near Savannah, Georgia. Kinder Morgan presently owns 51 percent of the ELC joint venture. Shell owns the remaining 49 percent and subscribes to 100 percent of the liquefaction capacity. Kinder Morgan will purchase the remaining 49 percent of the joint venture that it does not already own. Kinder Morgan’s predictable incremental investment resulting from this transaction is about $630 million, bringing its total incremental investment in all the liquefaction and terminal facilities at Elba Island to about $2.1 billion.
Permitting continues for the projected Elba Liquefaction Project, which comprises of 10 small-scale liquefaction units to be purchased from Shell. They will be integrated with the existing Elba Island facility and enable rapid construction contrast to traditional large-scale plants. The next step in the regulatory approval process is for the Federal Energy Regulatory Commission to issue a draft environmental assessment. Subject to regulatory approvals, construction could start in fourth quarter of 2015, with initial production predictable to occur in late 2017.
Kinder Morgan, Inc. operates as an energy infrastructure and energy company in North America. The company operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada, and Other segments.
Shares of TrueCar Inc (NASDAQ:TRUE), inclined 0.14% to $11.00, during its last trading session.
TrueCar, the negotiation-free car buying and selling mobile marketplace, has hired technology industry veteran Don Robertson as its executive vice president, people, and chief human resources officer to bolster recruitment of top-tier talent needed to keep pace with the company’s expanding business.
Robertson joins TrueCar from Hewlett Packard, where he has worked since 2001, most recently as senior vice president of human resources for Enterprise Services. He has over three decades of experience in human resources, business and general administration roles, and has worked in finance positions for companies counting GE Capital Corp., the Stanford Research Institute and The Clorox Co.
TrueCar, Inc. operates as an Internet-based information, technology, and communication services company. The company operates its platform on the TrueCar Website and TrueCar mobile applications.
Finally, Jacobs Engineering Group Inc (NYSE:JEC), ended its last trade with -2.69% loss, and closed at $40.19.
Jacobs Engineering Group, declared that it was selected by Monsanto Company (Monsanto) to provide engineering and procurement for a potential expansion of its St. Charles Parish operations in Luling, La.
In making the declaration, Jacobs Group Vice President Manuel Junco stated, “We are delighted to bring our expertise in executing projects of this size and scale to Monsanto. Our global strength in chemicals combined with delivery capacity in the U.S. Gulf Coast positions us to bring value to this critical project.”
Jacobs Engineering Group Inc. provides technical, professional, and construction services to various industrial, commercial, and governmental clients. It offers project services that comprise engineering, design, architectural, interiors, planning, environmental, and other services; and process, scientific, and systems consulting services, counting services performed in connection with scientific testing, analysis, and consulting activities, in addition to information technology, and systems engineering and integration activities.
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