El Paso Pipeline Partners Reports Quarterly Distribution of $0.65 Per Unit

  El Paso Pipeline Partners Reports Quarterly Distribution of $0.65 Per Unit

              Distribution Up 7 Percent From Fourth Quarter 2012

Business Wire

HOUSTON -- January 15, 2014

El Paso Pipeline Partners, L.P. (NYSE: EPB) today reported its quarterly cash
distribution per common unit of $0.65 ($2.60 annualized) payable on Feb. 14,
2014, to unitholders of record as of Jan. 31, 2014. This represents a 7
percent increase from the fourth quarter 2012 cash distribution per unit of
$0.61 ($2.44 annualized) and remains flat from the third quarter 2013
distribution of $0.65 per unit.

Chairman and CEO Richard D. Kinder said, “EPB had a solid year and will
distribute $2.55 per unit for 2013, a 13 percent increase over 2012. We
generated cash in excess of our distributions of $16 million. EPB’s regulated
pipeline and storage assets reported higher 2013 earnings before DD&A and
certain items ($1.195 billion versus $1.175 billion) than in 2012. Earnings
were impacted in both the third and fourth quarters, however, by two rate case
settlements that resulted in lower rates on the Southern Natural Gas (SNG) and
Wyoming Interstate Company (WIC) pipelines. A portion of that impact was
offset by good results on the Elba Express Pipeline, attributable to an
expansion project that added capacity to the pipeline in the spring of 2013.
Looking ahead, EPB has over $1.3 billion of expansion projects under contract
with customers which will benefit EPB unitholders in 2016 and beyond, and we
are pursuing customer commitments for additional projects.”

EPB reported fourth quarter distributable cash flow before certain items of
$144 million, down from $163 million for the same period in 2012.
Distributable cash flow per unit before certain items was $0.66, compared to
$0.75 for the fourth quarter last year. Net income for the fourth quarter
before certain items was $159 million compared to $180 million for the same
period in 2012. Including certain items, net income was $159 million compared
to $178 million for the fourth quarter last year.

For the full year 2013, EPB generated distributable cash flow before certain
items of $569 million, compared to $590 million for 2012. Distributable cash
flow per unit before certain items was $2.62 compared to $2.82 for 2012. Net
income before certain items was $615 million versus $606 million for last
year. Including certain items, net income for the year increased to $610
million compared to $589 million for 2012.

Business Overview

EPB reported fourth quarter earnings before DD&A and certain items of $307
million for the fourth quarter and $1.195 billion for the full year, compared
to $318 million for the fourth quarter and $1.175 billion for the full year
2012. In addition to the positive performance at Elba Express, results at
Colorado Interstate Gas, Cheyenne Plains and Southern LNG were higher than in
the fourth quarter last year. Results at SNG and WIC were lower than in the
fourth quarter of 2012 due to the rate case settlements, as well as lower
power demand and a decline in Rocky Mountain production, respectively.

2014 Outlook

As previously announced, EPB expects to declare cash distribution of $2.60 per
unit for 2014, a 2 percent increase over the $2.55 per unit it will distribute
for 2013. EPB’s 2014 budget includes the expected purchase (dropdown) of a 50
percent interest in Ruby Pipeline, a 50percent interest in Gulf LNG and a
47.5 percent interest in Young Gas Storage from KMI. The positive impact from
the expected dropdowns at attractive multiples will be largely offset by the
full year impacts of the SNG and WIC rate case settlements and expected lower
rates on contract renewals on the WIC system.

In 2014, EPB expects its regulated pipeline and storage assets, along with its
LNG business, to generate earnings before DD&A of almost $1.3 billion (adding
back EPB’s share of joint venture DD&A), an increase of almost $90 million
compared to 2013.

The boards of directors of the Kinder Morgan companies approved the 2014
budgets at the January board meeting, and the budgets will be discussed in
detail during the company’s annual analyst conference on Jan. 29, 2014, in
Houston. The conference starts at 8 a.m. CT and will be webcast live.

Other News

  *EPB announced in December that Shell US Gas & Power gave notice to EPB’s
    Elba Liquefaction Company joint venture to move forward on Phase II of the
    jointly owned natural gas liquefaction project at Elba Island LNG terminal
    near Savannah, Ga. EPB’s Southern Liquefaction Company unit owns 51
    percent of the Elba Liquefaction Company joint venture. The additional
    capacity will range from 70 million cubic feet per day (MMcf/d) (0.5
    million tonnes per year) up to 140 MMcf/d (1.0 million tonnes per year),
    with an estimated capital expenditure for Phase II of approximately $500
    million at the maximum volume of 140 MMcf/d. At full development, the Elba
    liquefaction project is expected to have total capacity of approximately
    350 MMcf/d of natural gas (2.5 million tonnes per year of LNG) at a cost
    of approximately $1.5 billion. Subject to regulatory approvals, Phase I is
    anticipated to be in service in late 2016 or early 2017 and Phase II is
    expected to be in service in 2017-2018.
  *SNG and Elba Express Company (EEC) will invest approximately $275 million
    for incremental, long-term natural gas transportation service. Previous
    open seasons generated binding customer contracts with incremental
    capacity of approximately 700,000 dekatherms per day (Dth/d) that will
    support infrastructure growth in the southeastern United States and the
    needs of customers in Georgia, South Carolina and northern Florida. EEC
    customers have expressed interest that could add incremental capacity of
    approximately 300,000 Dth/d to the project, which would bring the total
    capacity of the expansions to approximately 1 billion cubic feet per day.
    EEC could begin phasing in service as early as June 2016 pending
    regulatory approvals.
  *SNG placed its Rose Hill Project into service on schedule in November,
    which involved facility modifications to benefit both SNG and Tennessee
    Gas Pipeline (TGP), a subsidiary of Kinder Morgan Energy Partners. The
    approximately $25 million SNG portion of the project allows SNG customers
    to shift about 450,000 Dth/d to different receipt locations including an
    interconnection between SNG and TGP. The approximately $9 million TGP
    portion of the project improved the delivery capabilities from TGP to SNG.
  *Construction continues on the WYCO High Plains Expansion Project, a joint
    venture between CIG and Xcel Energy. The project began partial service in
    November of 2013, and the approximately $22 million project (EPB’s share
    is $11 million) is expected to be completed in the spring of this year.
    CIG is constructing approximately 8 miles of pipeline and making other
    modifications to provide additional takeaway capacity from the
    Denver-Julesburg Basin and link this prolific basin with CIG’s High Plains
    pipeline system. The project is supported by two shippers who signed
    long-term contracts for an initial 250,000 Dth/d.

El Paso Pipeline Partners (NYSE: EPB) is a publicly traded pipeline limited
partnership. It owns an interest in or operates almost 13,000 miles of
interstate natural gas transportation pipelines in the Rockies and the
Southeast, natural gas storage facilities with a capacity of approximately 100
billion cubic feet and LNG assets in Georgia. The general partner of EPB 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 $110 billion. It owns an interest
in or operates approximately 82,000 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 interests of Kinder Morgan Energy Partners, L.P. (NYSE: 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 www.kindermorgan.com.

Please join Kinder Morgan at 4:30 p.m. Eastern Time on Wednesday, Jan. 15, at
www.kindermorgan.com for a LIVE webcast conference call which will include a
discussion of EPB’s fourth quarter and year-end earnings.

The non-generally accepted accounting principles, or non-GAAP, financial
measures of distributable cash flow before certain items, both in the
aggregate and per unit, and earnings before depreciation, depletion,
amortization, or DD&A, and certain items, are presented in this news release.
Distributable cash flow before certain items is a significant metric used by
us and by external users of our financial statements, such as investors,
research analysts, commercial banks and others, to compare basic cash flows
generated by us to the cash distributions we expect to pay our unitholders on
an ongoing basis. Management uses this metric to evaluate our overall
performance. It also allows management to simply calculate the coverage ratio
of estimated ongoing cash flows to expected cash distributions. Distributable
cash flow before certain items is also an important non-GAAP financial measure
for our unitholders because it serves as an indicator of our success in
providing a cash return on investment. This financial measure indicates to
investors whether or not we are generating cash flow at a level that can
sustain or support an increase in the quarterly distributions we are paying
pursuant to our partnership agreement. Our partnership agreement requires us
to distribute all available cash. Distributable cash flow before certain items
and similar measures used by other publicly traded partnerships are also
quantitative measures used in the investment community because the value of a
unit of such an entity is generally determined by the unit’s yield (which in
turn is based on the amount of cash  distributions the entity pays to a
unitholder relative to unit price). The economic substance behind our use of
distributable cash flow before certain items is to measure and estimate the
ability of our assets to generate cash flows sufficient to make distributions
to our investors.

We define distributable cash flow before certain items to be limited partners’
pretax income before certain items and DD&A, less sustaining capital
expenditures for EPB, plus DD&A less sustaining capital expenditures for our
equity method investees Bear Creek, WYCO and beginning January 1, 2013 Elba
Liquefaction, plus other income and expenses, net (which primarily includes
deferred revenue, non-cash AFUDC equity and other items). Distributable cash
flow before certain items per unit is distributable cash flow before certain
items divided by average outstanding units. “Certain items” are items that are
required by GAAP to be reflected in net income, but typically either (1) do
not have a cash impact, for example, goodwill impairments, allocated
compensation for which we will never be responsible, and results from assets
prior to our ownership that are required to be reflected in our results due to
accounting rules regarding entities under common control, or (2) by their
nature are separately identifiable from our normal business operations and in
our view are likely to occur only sporadically, for example certain legal
settlements, hurricane impacts and casualty losses. Management uses this
measure and believes it is important to users of our financial statements
because it believes the measure more effectively reflects our business’
ongoing cash generation capacity than a similar measure with the certain items
included. For similar reasons, management uses earnings before DD&A and
certain items in its analysis of the performance and management of our
business. We believe earnings before DD&A and certain items is a significant
performance metric because it enables us and external users of our financial
statements to better understand our ability to generate cash on an ongoing
basis. We believe it is useful to investors because it is a measure that
management believes is important and that our chief operating decision makers
use for purposes of making decisions and assessing our performance.

We believe the GAAP measure most directly comparable to distributable cash
flow before certain items is net income. Our calculation of distributable cash
flow before certain items, which begins with net income after adjusting for
certain items that are specifically identified in the accompanying tables, is
set forth in those tables. Net income before certain items is presented
primarily because we use it in this calculation. Earnings before DD&A as
presented in our GAAP financials is the measure most directly comparable to
earnings before DD&A and certain items. Earnings before DD&A and certain items
is calculated by adjusting for the certain items attributable to the
partnership, which are specifically identified in the footnotes to the
accompanying tables, from earnings before DD&A.

Our non-GAAP measures described above should not be considered as an
alternative to GAAP net income, operating income or any other GAAP measure.
Distributable cash flow before certain items and earnings before DD&A and
certain items are not financial measures in accordance with GAAP and have
important limitations as analytical tools. You should not consider either of
these non-GAAP measures in isolation or as a substitute for an analysis of our
results as reported under GAAP. Because distributable cash flow before certain
items excludes some but not all items that affect net income and because
distributable cash flow measures are defined differently by different
companies in our industry, our distributable cash flow before certain items
may not be comparable to distributable cash flow measures of other companies.
Earnings before DD&A and certain items has similar limitations. Management
compensates for the limitations of these non-GAAP measures by reviewing our
comparable GAAP measures, understanding the differences between the measures
and taking this information into account in its analysis and its decision
making processes.

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 EPB 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 EPB’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, EPB 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.

                                                               
El Paso Pipeline Partners, L.P.
Preliminary Consolidated Statements of Income
(Unaudited)
(in millions, except per unit amounts)
                                                                     
                                                                     
                    Three Months Ended December        Year Ended December 31,
                    31,
                    2013            2012               2013          2012
                                                                     
Revenues            $  391         $  390            $  1,505     $ 1,515 
                                                                     
Costs, expenses
and other
Operations and         89              79                 329          389
maintenance
Depreciation and       54              46                 198          183
amortization
Taxes, other
than income           20            19               83         82    
taxes
                      163           144              610        654   
Operating income       228             246                895          861
                                                                     
Other income
(expense)
Earnings from
equity                 4               3                  13           14
investments
Interest               (74    )        (75    )           (300   )     (293  )
expense, net
Other, net            1             4                2          7     
Net income            159           178              610        589   
                                                                     
Net income
attributable to       -             -                -          (10   )
noncontrolling
interests
Net income
attributable to     $  159         $  178            $  610       $ 579   
EPB
                                                                     
Calculation of
Limited
Partners'
interest in net
income
attributable to
EPB
Net income
attributable to     $  159          $  178             $  610        $ 579
EPB
Less:
Pre-acquisition
earnings               -               -                  -            (22   )
allocated to
General Partner
(1)
Plus: Severance
costs allocated        -               2                  1            34
to General
Partner
Less: General
Partner's 2%           (3     )        (4     )           (12    )     (12   )
interest
allocation
Less: General
Partner's             (51    )       (43    )          (195   )    (129  )
incentive
distribution
Limited
Partners'           $  105         $  133            $  404       $ 450   
interest in net
income
                                                                     
Limited
Partners' net
income per unit
Net income          $  0.48        $  0.62           $  1.86      $ 2.15  
Weighted average
units                 218           216              217        209   
outstanding
                                                                     
Per unit cash
distribution        $  0.65        $  0.61           $  2.55      $ 2.25  
declared for the
period
                                                                     
Notes:
(1) Represents Cheyenne Plains' earnings prior to EPB's May 24, 2012
acquisition of Cheyenne Plains from El Paso.
                                                                     
                                                                     
El Paso Pipeline Partners, L.P.
Preliminary Reconciliation of Distributable Cash Flow to Net Income
(Unaudited)
(in millions, except per unit amounts)
                                                                     
                                                                     
                    Three Months Ended December        Year Ended December 31,
                    31,
                    2013            2012               2013          2012
Earnings before
DD&A and certain    $  307          $  318             $  1,195      $ 1,175
items
DD&A                  54            46               198        178   
Earnings               253             272                997          997
contribution
General and
administrative         (20    )        (17    )           (82    )     (102  )
expense
Interest              (74    )       (75    )          (300   )    (289  )
expense, net
Net income
before certain         159             180                615          606
items
Certain items
Cheyenne Plains
pre-acquisition        -               -                  -            22
earnings
Non-cash
severance costs        -               (2     )           (1     )     (34   )
(4)
CIG
environmental          -               -                  -            6
reserve
adjustment
Loss on
write-off of           -               -                  -            (11   )
asset (1)
SNG offshore
assets hurricane       -               -                  (2     )     -
repair costs
Sales and use
tax reserve           -             -                (2     )    -     
adjustment (2)
Sub-total             -             (2     )          (5     )    (17   )
certain items
Net Income          $  159         $  178            $  610       $ 589   
Less:
Pre-acquisition
earnings               -               -                  -            (22   )
allocated to
General Partner
(3)
Plus: Severance
costs allocated        -               2                  1            34
to General
Partner (4)
Less: General
Partner's 2%           (3     )        (4     )           (12    )     (12   )
interest
allocation
Less: General
Partner's              (51    )        (43    )           (195   )     (129  )
incentive
distribution
Less:
Noncontrolling        -             -                -          (10   )
Interests in net
income
Limited
Partners' net       $  105         $  133            $  404       $ 450   
income
                                                                     
Net income
before certain      $  159          $  180             $  615        $ 606
items
Less: Net income
attributable to
Noncontrolling        -             -                -          (10   )
Interests before
certain items
Net income
attributable to        159             180                615          596
EPB before
certain items
Less: General
Partner's 2%           (3     )        (4     )           (12    )     (12   )
interest
allocation
Less: General
Partner's             (51    )       (43    )          (195   )    (129  )
incentive
distribution
Limited
Partners' net          105             133                408          455
income before
certain items
Depreciation and       54              46                 198          178
amortization (5)
Net income
attributable to
noncontrolling         -               -                  -            10
interests before
certain items
Declared
distributions to
noncontrolling         -               -                  -            (8    )
interests before
certain items
(6)
Other (7)              -               1                  2            1
Sustaining
capital               (15    )       (17    )          (39    )    (46   )
expenditures (8)
DCF before
certain items -     $  144         $  163            $  569       $ 590   
Limited Partners
                                                                     
Net income /
unit before         $  0.48        $  0.62           $  1.88      $ 2.18  
certain items
DCF / unit
before certain      $  0.66        $  0.75           $  2.62      $ 2.82  
items
Weighted average
units                 218           216              217        209   
outstanding
                                                                     
Notes ($
millions):
(1) Reflects write-off of a cancelled software implementation project.
(2) Non-cash reserve adjustment related to periods prior to July 2012.
(3) Represents earnings related to Cheyenne Plains prior to the May 24, 2012
acquisition.
(4) Represents the non-cash severance costs allocated to EPB from El Paso as a
result of KMI's acquisition of El Paso. EPB does not have any obligation nor
did EPB pay any amounts related to this expense.
(5) Includes EPB's share of Bear Creek and WYCO DD&A ($0.2 and $0.7 for 4Q and
YTD 2013, respectively and $0.2 and $0.6 for 4Q and YTD 2012, respectively).
(6) Cash distributions made to the noncontrolling interest holder.
(7) Includes deferred revenue and other non-cash items such as AFUDC equity
and other items.
(8) Includes EPB's share of Bear Creek and WYCO sustaining capital
expenditures:
$0.2 and $2.6 for 4Q and YTD 2013, respectively, and $0.3 and $0.9 for 4Q and
YTD 2012, respectively.
                                                                     
Transport             7,594         7,835            7,498      7,864 
Volumes (BBtu/d)

                                                     
El Paso Pipeline Partners, L.P.
Preliminary Abbreviated Consolidated Balance Sheets
(Unaudited)
(in millions)
                                                          
                                 December 31,             December 31,
                                 2013                     2012
ASSETS
Cash and cash equivalents        $        78              $        114
Other current assets                      226                      241
Property, plant and                       5,879                    5,931
equipment, net
Investments                               87                       72
Regulatory assets and other              239                     223
assets
TOTAL ASSETS                     $        6,509           $        6,581
                                                          
LIABILITIES AND PARTNERS'
CAPITAL
Liabilities
Current maturities of            $        77              $        93
long-term debt
Other current liabilities                 214                      188
Long-term debt                            4,171                    4,246
Other                                    108                     67
Total liabilities                         4,570                    4,594
                                                          
Partners' capital
Accumulated other                         10                       10
comprehensive income
Other partners' capital                  1,929                   1,977
Total partners' capital                  1,939                   1,987
TOTAL LIABILITIES AND            $        6,509           $        6,581
PARTNERS' CAPITAL
                                                          
Total Debt, net of cash and      $        4,178           $        4,233
cash equivalents (1)
EBITDA (2) (3)                   $        1,113           $        1,073
Debt to EBITDA                            3.8                      3.9
                                                          
                                                          
                                 Twelve Months Ended
                                 December 31, 2013        December 31, 2012
Net Income                       $        610             $        589
Certain items                             5                        17
Depreciation and                          198                      178
amortization (3)
Interest expense, net                    300                     289
EBITDA                           $        1,113           $        1,073
                                                          
                                                          
Notes ($ millions):
(1) Amounts reflect the gross debt balance before unamortized discount of $8
for each of the periods presented.
(2) Amounts represent the last twelve months and are adjusted for certain
items.
(3) Includes add back of EPB's share of Bear Creek and WYCO DD&A, which was
less than $1 for each of the twelve months ended December 31, 2013 and 2012.

Contact:

El Paso Pipeline Partners, L.P.
Media Relations
Melissa Ruiz, 713-369-8060
melissa_ruiz@kindermorgan.com
or
Investor Relations, 713-369-9490
km_ir@kindermorgan.com
www.kindermorgan.com