On Friday, Shares of Kinder Morgan, Inc. (NYSE:KMI), lost -1.36% to $36.89.
Kinder Morgan, and Shell (NYSE: RDS.A, RDS.B) 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 Tesla Motors, Inc. (NASDAQ:TSLA), inclined 2.99% to $274.66, during its last trading session.
On the heels of Tesla’s recent declaration that Model S worldwide has driven more than one billion miles, Tesla kicks off The Next Billion Tour to give customers across the country the opportunity to get behind the wheel of Model S and experience the benefits of going electric.
Guests are invited to experience the exhilarating performance and handling of Model S and hear from local owners about owning and driving a Tesla. In addition to offering test drives in Model S, Tesla experience stations will highlight: Model S features counting Tesla’s pioneering Dual Motor All-Wheel Drive and Autopilot technology, Tesla’s over-the-air updates, Tesla’s revolutionary approach to car and customer service, and the ease of charging a Model S at home and on the road.
North American Next Billion Tour Plan
- Pittsburgh, PA: July 17-19
- Bethlehem, PA: July 18-19
- Albany, NY: July 23-24
- Orange County, CA: July 23-26
- Long Beach Island, NJ: July 24-26
- Syracuse, NY: July 27
- The Finger Lakes, NY: July 28
- Rochester, NY: July 30- 31
- San Diego, CA: July 30- August 2
- Virginia Beach, VA: July 31- August 2
- Lake George, NY: August 3-5
- Tucson, AZ: August 7-9
- Miami, FL: August 7-9
- Burlington, VT: August 8-9
- Bedford, NH: August 11-12
- Portsmouth, NH: August 14-15
- Chicago, IL: August 14-16
- Fort Worth, TX: August 14-16
- Plymouth, MA: August 17
- Cape Cod, MA: August 18-19
- Minneapolis, MN: August 21-23
- Austin, TX: August 21-23
- Newport, RI: August 21-23
- Weekapaug, RI: August 25-26
- Calgary, BC: August 28-29
- Fairfield, CT: August 28-29
- Greenwich, CT: August 30-31.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers.
Finally, Clean Energy Fuels Corp. (NASDAQ:CLNE), ended its last trade with -2.31% loss, and closed at $5.91.
The City of Santa Monica’s Big Blue Bus (BBB) declared recently that it has become one of the country’s first municipal transit authorities to convert its fleet to renewable natural gas (RNG), rated 90% cleaner than diesel and considered the cleanest transportation fuel accessible. Earlier this year, BBB modified its original agreement with Clean Energy Fuels Corp. (Nasdaq: CLNE) to transition the supply of Liquefied Natural Gas (LNG) for its fleet to Clean Energy’s Redeem™ renewable LNG (Redeem™), which is non-fracked methane harvested from organic waste in landfills.
With the declaration, BBB unveiled a new Bus ad campaign called “Bigger, Bluer, Skies” to emphasize the lower emissions and sustainability of this type of fuel.
Big Blue Bus has been fueling its LNG and Compressed Natural Gas (CNG) fleet of motor coaches with fuel supplied by Clean Energy since 2012. The process of harvesting and processing Redeem™ provides a product that has fewer impurities than conventional natural gas and is a cleaner burning fuel source.
Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It designs, builds, operates, and maintains fueling stations; and supplies compressed natural gas (CNG) fuel for light, medium, and heavy-duty vehicles, in addition to liquefied natural gas (LNG) fuel for medium and heavy-duty vehicles.
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