KMP to Sell Its One-Third Stake in Express-Platte Pipeline System

  KMP to Sell Its One-Third Stake in Express-Platte Pipeline System

Business Wire

HOUSTON -- December 11, 2012

Kinder Morgan Energy Partners, L.P. (NYSE: KMP), today announced that it has
entered into a definitive agreement to sell its one-third interest in the
Express-Platte pipeline system to Spectra Energy Corp for approximately $380
million pre tax. KMP’s joint venture partners in Canada (Ontario Teachers’
Pension Plan Board and Borealis Infrastructure, the infrastructure investment
arm of the OMERS pension plan) are also selling their interests in the
pipeline system, as Spectra Energy Corp is purchasing 100 percent of
Express-Platte. The transaction is subject to customary consents and
regulatory approvals and is expected to close in the second quarter of 2013.
Express-Platte is a 1,700-mile oil pipeline system connecting Canadian and
U.S. producers to refineries in the Rocky Mountain and Midwest regions of the
United States.

“This is a win-win transaction for both KMP and Spectra Energy Corp,” said KMP
Chairman and CEO Richard D. Kinder. “Spectra Energy Corp is purchasing a good
pipeline system. In exchange, KMP will receive a very attractive price. Based
on the structure of KMP’s investment with our Express-Platte partners, KMP
receives approximately $15 million of cash flow on an annual basis from this
investment, which is primarily debenture interest. We will redeploy the
proceeds from this sale into various growth projects to further benefit our
unitholders. I would like to thank the Express-Platte and Kinder Morgan Canada
employees for their hard work and outstanding service in operating this
pipeline system.”

Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline
transportation and energy storage company and one of the largest publicly
traded pipeline limited partnerships in America. It owns an interest in or
operates approximately 53,000 miles of pipelines and 180 terminals. The
general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Kinder
Morgan is the largest midstream and the third largest energy company in North
America with a combined enterprise value of approximately $100 billion. It
owns an interest in or operates approximately 75,000 miles of pipelines and
180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO[2]
and other products, and its terminals store petroleum products and chemicals
and handle such products as ethanol, coal, petroleum coke and steel. KMI owns
the general partner interest of KMP and El Paso Pipeline Partners, L.P. (NYSE:
EPB), along with limited partner interests in KMP, and EPB and shares in
Kinder Morgan Management, LLC (NYSE: KMR). For more information please visit

This news release includes forward-looking statements. These forward-looking
statements are subject to risks and uncertainties and are based on the beliefs
and assumptions of management, based on information currently available to
them. Although Kinder Morgan believes that these forward-looking statements
are based on reasonable assumptions, it can give no assurance that such
assumptions will materialize. Important factors that could cause actual
results to differ materially from those in the forward-looking statements
herein include those enumerated in Kinder Morgan’s reports filed with the
Securities and Exchange Commission. Forward-looking statements speak only as
of the date they were made, and except to the extent required by law, Kinder
Morgan undertakes no obligation to update or review any forward-looking
statement because of new information, future events or other factors. Because
of these uncertainties, readers should not place undue reliance on these
forward-looking statements.


Kinder Morgan Energy Partners, L.P.
Media Relations
Richard Wheatley, 713-420-6828
Investor Relations
Mindy Mills Thornock, 713-369-9490
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