Jeff RawlsVice President, Business Development

West Region Gas Pipelines

August 30, 2005

Wyoming Pipeline Authority

2

2

2

4

8

2

2

2

2

KMCO2

PACIFIC COCHIN

PACIFIC

PACIFIC

CALNEV

NORTH

PLANTATION

CFPL

KMIGT

KMTP

KM TEJAS

2

NGPL

3

2

2

2

2

2

Kinder Morgan HeadquartersHouston, Texas

CO2 Pipelines

Terminals

Products Pipelines

Products Pipeline Terminals

Transmix Facilities

Natural Gas Pipelines

Natural Gas Storage

Natural Gas Plants

Indicates # of Facilities(2,3,8)

KMP

NGPL

NGPL Storage

Natural Gas Pipelines

Natural Gas Storage

Gas-Fired Power Plants

Retail Natural Gas Division

KMI

The Obvious - Issues

Production is Growing in Rockies

0

2,000

4,000

6,000

8,000

10,000

12,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

MM

cf/D

ay

WY S CO W SL WY E UT CO NE WY N CO SE MT

The Obvious - Issues

Production is growing in Rockies

Recent Expansion out of Rockies have moved bottle necks

The Obvious - Issues Production is growing in Rockies Recent Expansion out of Rockies have moved bottle necks

LNG “is” happeningLNG Imports (including Mexico and Canada)

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

MM

cf/

Da

y

The Obvious - Issues

Production is growing in Rockies

Recent Expansion out of Rockies have moved bottle necks

LNG “is” happening

Rate Stacking & Fuel are material

The Obvious - Solution

Don’t Fight LNG

Access Demand Directly

Build Big

“A Picture is Worth a 1000 Words”

Source: EIA GasTran Gas Transport, 2003

Limited TakeAway CapacityFrom Rockies

Forward Mid-Continent and SoCal Basis are trending out

West to East Pipeline

LNGLNGLNGLNG

LNGLNG

~ 3 Bcfd~ 3 Bcfd

2003 – 2005 2007

SoCal ($.36) ($.48)

2003 – 2005 2007

MidCont ($.43) ($.57)

2003 – 2005 2007

TranZn6 $.99 $1.39

Project ProposalWest to East Pipeline

ANR

MIDWESTERN

PEPLTRUNKLINE

NGPL

COLUMBIA GASDOMINIONTETCOTEXAS GAS

DOMINIONEAST OHIO GASTETCO

TGT

ANR

NGPLNNG

BIG SPRINGS

KMIGT-HUNTSMAN STORAGE

KMIGTTRAILBLAZERCIGCHEYENNE PLAINSPSCOWIC

WIC-MEDICINE BOW

CIGSOUTHERN STARWICBURLINGTON LOST CREEKECHO SPRINGS

TENNESSEE GAS

EQUITRANS

COLUMBIA GASDOMINIONNATIONAL FUELNORTH PENNTETCOTRANSCO

COL. GAS

ENCANA GATHERING SERVICESTRANSCOLORADO

KMIGT PXP

MEEKER

OPAL

KANDA

CHEYENNE

WAMSUTTER

LEBANON

LEIDY

MULLETTUSCOLA

BLANCO

PROPOSED PIPELINE-WAMSUTTER/MULLET

PROPOSED PIPELINE-MEEKER/WAMSUTTER

POTENTIAL PIPELINE

PROPOSED INTERCONNECTS

NGPL

TRANSCOLORADO

HUB

KMWE Pipeline Overview

42-inch 1500 mile pipeline from Wamsutter to Eastern Ohio

2 Bcfd of long-haul capacity

Over 40 interconnects along the way

Optional supply and market extensions considered separately (Opal / Greasewood / Leidy, Penn.)

Value Proposition - Producers

Underlying value is key (wellhead pricing would go up, basis volatility down)

PV-10 Reserve value to producers are material with just 25 cents basis change

Access to Markets – over 20 Bcfd of LDC load and 1.5 Tcf of storage

Extrinsic value of 40 Interconnects and market based storage is real

Kinder Morgan Contacts

Lakewood, COJeff Rawls: 303-914-4903

Mike Smith: 303-763-3484

Lombard, ILFrank Strong: 630-691-3790