According to Reuters article published on December 8, 2022, Kinder Morgan Inc (KMI.N) on Wednesday forecast higher adjusted core earnings for 2023, as the U.S. pipeline operator bets on higher demand for transporting crude oil, gas-liquids and carbon dioxide.
Demand for oil and gas has surged following Russia's invasion of Ukraine, as sanctions against Moscow left Europe scrambling to find alternate gas supplies and improve long-term energy security, leading to record U.S. liquefied natural gas export volumes.
Elevated commodity prices have also encouraged producers to boost output, thus benefiting pipeline operators such as Kinder Morgan.
"We expect 2023 to be another very good year for Kinder Morgan, with strong market fundamentals, continued robust growth in demand," said Steve Kean, the company's chief executive officer.
Kean also expects the company's 2023 results to be offset by higher interest rates.
