Kinder Morgan (KMI) has launched a binding open season for Trident Intrastate Pipeline, a new project designed to deliver up to 2.8 Bcf/d of gas from the Katy hub to the Port Arthur area near the Texas-Louisiana border. With Golden Pass LNG on board as a shipper, Trident could alleviate oversupply risk as more Permian gas is pushed to the Texas coast.
KMI started the open season on October 14 seeking binding commitments for the Trident project. The company is targeting in-service by February ’27. Trident should help move natural gas from a saturated South Texas market as the Matterhorn and Blackcomb pipelines bring in up to 5.0 Bcf/d of incremental Permian supply by 2027.
East Daley Analytics forecasts South Texas gas flows in the Houston Ship Channel Supply & Demand Report. Pipelines in the Port Arthur area have capacity to move ~7.8 Bcf/d and can pull in as much as 8.8 Bcf/d during the winter months, when LNG production peaks at Gulf Coast facilities. EDA forecasts up to 4.7 Bcf/d of incremental LNG demand through YE27 from the Golden Pass and Port Arthur LNG.
Following the start of the KMI open season, Golden Pass LNG (2.7 Bcf/d capacity) announced it had signed up for capacity on Trident. Golden Pass currently has commitments for 1.1 Bcf/d of firm transport (FT) out of the Haynesville on Energy Transfer’s (ET) Gulf Run Transmission and for 340 MMcf/d on Natural Gas Pipeline of America (NGPL). East Daley estimates that Golden Pass needs ~1.16 Bcf/d of additional FT to fully supply the facility’s liquefaction project, an unknown share of which will come from Trident.
Golden Pass Pipeline (GPPL), the line connecting the Golden Pass terminal to nearby pipes, has significant optionality in the Port Arthur area with interconnects to several inter- and intrastate systems. Assuming Trident doesn’t fully supply the remaining 1.16 Bcf/d, Golden Pass could underwrite an expansion on Gulf Run or pull in gas from Carthage on several Texas intrastate lines (KMI Tejas, Texas, and Houston Pipe Line).
In the Houston Ship Channel Supply & Demand Report, East Daley had called for new capacity between the Houston Ship Channel and Louisiana on Blackfin Pipeline, for eventual delivery to Venture Global’s CP Express pipeline and CP2 LNG project (see figure including the Trident project). However, it appears KMI has beaten WhiteWater Midstream to the punch, particularly since CP2 is delayed by the Department of Energy’s pause on non-free trade agreement (FTA) licenses. – Oren Pilant Tickers: ET, KMI.
Dirty Little Secrets 2025: Commodity Ties Create an Abundance of Opportunity - 2-Part Series
Part 1 - Don’t Balk at the Bakken. Part 1 of this exclusive series will explore the Bakken as an example of how to view the entire U.S. energy value chain. The commodity market may be out of step, but equity markets are on target. Relying on just one could be a costly mistake. If you can anticipate what’s unfolding in the Bakken, you'll be positioned to profit across the US energy sector. Join East Daley November 6 at 10 am MST. Register here to join us.
Sign Up for the NGL Insider
East Daley NGL Insider provides weekly updates on the US NGLs market including supply and demand fundamentals, basin-level views, and analysis of market constraints and infrastructure proposals. We explore sub-basin dynamics and provide market insights on NGL flows, infrastructure, and purity products. Sign up now for the NGL Insider.
The Daley Note
Subscribe to The Daley Note (TDN) for midstream insights delivered daily to your inbox. The Daley Note covers news, commodity prices, security prices and EDA research likely to affect markets in the short term.
