US midstream giant Kinder Morgan has placed on the back burner its plans for a third pipeline to carry natural gas from the massive Permian basin to the Gulf Coast amid slowing activity in the region.
The company is still working with customers on the 2 billion cubic feet per day Permian Pass project but the pipeline might not be needed as soon as previously expected, Kinder Morgan chief executive Steve Kean said on an earnings call last week.
