KMP Hikes Distributions, Prepares for Rockies Express

Kinder Morgan announced its 30th distribution hike since 1997, increasing distributions to LP unitholders 9% to $0.88. This puts the MLP on track to exceed its annual budget for cash distributions of $3.44. Further, KMP expects the Rockies Express – West pipeline to begin service on Jan. 1, 2008. The project is part of a broader trend toward developing midstream assets in the area, as MLPs seek to capitalize on the lack of existing pipeline infrastructure.