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Kinder Morgan Posts Higher Q2 Natural Gas Volumes, Lower Refined Products Deliveries

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Kinder Morgan (KMI) reported Q2 earnings Wednesday, showing total delivery volumes of 2.044 million barrels per day, down from 2.213 million b/d a year earlier.

The company delivered 1.623 million b/d of refined products for the quarter ended June 30, compared with 1.710 million b/d a year earlier.

Crude and condensate delivery volumes declined to 421,000 b/d from 503,000 b/d in Q2 2025.

Natural gas transport volumes increased to 47,886 billion British thermal units per day from 44,818 BBtu/d a year earlier.

Natural gas sales volumes rose to 3,908 BBtu/d for the quarter, compared with 2,832 BBtu/d, while natural gas gathering volumes climbed to 4,637 BBtu/d from 3,692 BBtu/d a year earlier.

Natural gas liquids transport increased to 52,000 b/d for Q2 2026, up from 39,000 b/d for the same quarter last year.

Gasoline volumes declined to 970,000 b/d, down from 1.016 million b/d a year earlier.

Diesel fuel volumes decreased to 357,000 b/d from 369,000 b/d in the year-ago quarter.

Jet fuel volumes fell to 296,000 b/d from 325,000 b/d a year earlier.

The CO2 segment produced 28,040 barrels of oil per day during the quarter, up from 25,520 b/d a year earlier. SACROC production increased to 21,110 b/d from 18,420 b/d.

Net natural gas liquids sales volumes increased to 9,800 b/d from 9,030 b/d, while net CO2 sales volumes rose to 0.306 billion cubic feet per day from 0.291 Bcf/d.

Kinder Morgan said its project backlog totaled $9.6 billion at the end of Q2.

Natural gas projects accounted for about 92% of the backlog, while over 60% supports power generation and local distribution company demand.

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