1

Natural Gas Pipeline Company of America / Trailblazer Pipeline 2006 Customer Meeting

September 20 th

St. Andrews Country Club West Chicago, IL

2

2006 Customer Meeting

l Welcome l Corporate Overview l Pipeline Management l Supply and Market Growth l Panel Discussion

Storage Development

l Business Development Projects

3

Corporate Update

Steve Kean Chief Operating Officer

4

This presentation contains forward looking statements, including This presentation contains forward looking statements, including these, within the meaning of Section 27A of the Securities Act these, within the meaning of Section 27A of the Securities Act of 1933, as amended, of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forwar and Section 21E of the Exchange Act of 1934, as amended. Forward looking statements are not guarantees of performance. They in d looking statements are not guarantees of performance. They involve risks, volve risks, uncertainties and assumptions. The future results and securitie uncertainties and assumptions. The future results and securities values of Kinder Morgan Inc., Kinder Morgan Energy Partners, L s values of Kinder Morgan Inc., Kinder Morgan Energy Partners, L.P. and Kinder .P. and Kinder Morgan Management, LLC (collectively known as Morgan Management, LLC (collectively known as “ “Kinder Morgan Kinder Morgan” ”) may differ materially from those expressed in the forward ) may differ materially from those expressed in the forward­ ­looking statements looking statements contained throughout this presentation and in documents filed wi contained throughout this presentation and in documents filed with the SEC. Many of the factors that will determine these resul th the SEC. Many of the factors that will determine these results and values are ts and values are beyond Kinder Morgan's ability to control or predict. These sta beyond Kinder Morgan's ability to control or predict. These statements are necessarily based upon various assumptions involving tements are necessarily based upon various assumptions involving judgments with judgments with respect to the future, including, among others, the ability to a respect to the future, including, among others, the ability to achieve synergies and revenue growth; national, international, re chieve synergies and revenue growth; national, international, regional and local gional and local economic, competitive and regulatory conditions and developments economic, competitive and regulatory conditions and developments; technological developments; capital markets conditions; inflat ; technological developments; capital markets conditions; inflation rates; interest ion rates; interest rates; the political and economic stability of oil producing nat rates; the political and economic stability of oil producing nations; energy markets; weather conditions; environmental conditio ions; energy markets; weather conditions; environmental conditions; business and ns; business and regulatory or legal decisions; the pace of deregulation of retai regulatory or legal decisions; the pace of deregulation of retail natural gas and electricity and certain agricultural products; l natural gas and electricity and certain agricultural products; the timing and success of the timing and success of business development efforts; terrorism; and other uncertainties business development efforts; terrorism; and other uncertainties. You are cautioned not to put undue reliance on any forward . You are cautioned not to put undue reliance on any forward­ ­looking statement. looking statement.

In connection with the proposed Merger involving Kinder Morgan, In connection with the proposed Merger involving Kinder Morgan, Inc. (the Inc. (the “ “Company Company” ”), the Company will file a proxy statement with the Securities ), the Company will file a proxy statement with the Securities and Exchange Commission (the "SEC"). INVESTORS AND SECURITY HOL and Exchange Commission (the "SEC"). INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT DERS ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND THE PARTIES TO THE ABOUT THE MERGER AND THE PARTIES TO THE MERGER. Investors and security holders may obtain a free copy o MERGER. Investors and security holders may obtain a free copy of the proxy statement (when available) and other relevant docume f the proxy statement (when available) and other relevant documents filed with nts filed with the SEC from the the SEC from the SEC SEC’’s s website at http:// website at http://www.sec.gov www.sec.gov. The Company . The Company’’s security holders and other interested parties will also be abl s security holders and other interested parties will also be able to obtain, e to obtain, without charge, a copy of the proxy statement and other relevant without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or te documents (when available) by directing a request by mail or telephone to Investor lephone to Investor Relations, Kinder Morgan, Inc., 500 Dallas Street, Suite 1000, H Relations, Kinder Morgan, Inc., 500 Dallas Street, Suite 1000, Houston, Texas 77002, telephone (713) 369 ouston, Texas 77002, telephone (713) 369­ ­9490, or from the Company 9490, or from the Company’’s website, s website, www.kindermorgan.com www.kindermorgan.com. .

The Company and its directors, executive officers and other memb The Company and its directors, executive officers and other members of its management and employees may be deemed to be particip ers of its management and employees may be deemed to be participants in the ants in the solicitation of proxies from the Company solicitation of proxies from the Company’’s shareholders with respect to the Merger. Information about th s shareholders with respect to the Merger. Information about the Company e Company’’s directors and executive s directors and executive officers and their ownership of the Company officers and their ownership of the Company’’s common stock is set forth in the proxy statement for the Compa s common stock is set forth in the proxy statement for the Company ny’’s 2006 Annual Meeting of s 2006 Annual Meeting of Shareholders, which was filed with the SEC on April 3, 2006. Sh Shareholders, which was filed with the SEC on April 3, 2006. Shareholders and investors may obtain additional information regar areholders and investors may obtain additional information regarding the interests of ding the interests of the Company and its directors and executive officers in the Merg the Company and its directors and executive officers in the Merger, which may be different than those of the Company er, which may be different than those of the Company’’s shareholders generally, by s shareholders generally, by reading the proxy statement and other relevant documents regardi reading the proxy statement and other relevant documents regarding the Merger, which will be filed with the SEC. ng the Merger, which will be filed with the SEC.

Forward Looking Statements

5

KM Overview

6

Kinder Morgan Assets

2

Pacific

Northern TransColorado

2 Pacific CALNEV

KMCO2

2

2 KMTP

KMTejas Wink

SACROC

Yates 7 5 2

2 2

Plantation Cypress

NGPL

8

Central Florida 4

2

2

2 4 3

2

2 3

2 KMIGT

Trailblazer

3

Cochin

North

Express

Platte

Corridor Trans Mountain

2

Claytonville

2

2

3

NGPL (KMI) NGPL GAS STORAGE (KMI) RETAIL GAS DISTRIBUTION (KMI) GAS­FIRED POWER PLANTS (KMI) PRODUCTS PIPELINES (KMP) PRODUCTS PIPELINES TERMINALS (KMP) TRANSMIX FACILITIES (KMP) NATURAL GAS PIPELINES (KMI­KMP) NATURAL GAS STORAGE (KMI­KMP) NATURAL GAS PROCESSING (KMI­KMP) CO 2 PIPELINES (KMP) CO 2 OIL FIELDS (KMP) CRUDE OIL PIPELINES (KMP) TERMINALS (KMP)

KM HEADQUARTERS

TERASEN GAS (KMI) PETROLEUM PIPELINES (KMI) PETROLEUM PIPELINES TERMINALS (KMI)

(2,3,8) INDICATES NUMBER OF FACILITIES IN AREA

6

7

Vision: Where We’re Going

l Growing Rockies Natural Gas Production

l Increased Supply of LNG on Gulf Coast

l Canadian Oilsands

l Increased Use of Heavy Crude

l Growing Coal Imports

l High Oil Prices – Leading to Demand for Enhanced Oil Recovery

l Natural Gas Price Volatility

l Demographic Growth in West and Southeast U.S.

l Increased Petroleum Products Imports

l Increased Ethanol Demand

KM Opportunity KM Opportunity Trend Trend

l Rockies Express

l Kinder Morgan Louisiana Pipeline

l Trans Mountain, Corridor pipeline expansions, Edmonton terminal

l Petcoke handling – Gulf Coast, Canada

l Pier 9, Shipyard River terminal expansions

l McElmo Dome, Doe Canyon CO 2 source field expansions, Cortez CO 2 pipeline expansion

l Sayre, North Lansing, Dayton storage expansions

l East Line, CALNEV expansions

l New York, Houston terminal expansions

l Storage expansions at Houston, Philadelphia Natural gas supply to ethanol plants thru KMIGT, NGPL, Retail

8

Corporate Update

• Terasen

• Divestiture of U.S. Retail Business

• Oilsands

9

Corporate Update: Terasen Operations

• Terasen Gas

• KM Canada

l Trans Mountain Pipeline

l Corridor Pipeline

l Express/Platte Pipeline

10

Terasen Gas • 892K customers

• Serve 95% of BC customers

• 27K miles of pipeline

• Third largest gas utility in Canada

• Largest natural gas utility in the Pacific Northwest

• C$2.9B rate base

• C$275M EBIT (2005)

Whistler

11

KM Canada

Corridor Corridor

Express/Platte Express/Platte

Trans Mountain Trans Mountain

• • Operator of 3 Oil Operator of 3 Oil Pipelines Pipelines

• • Sole Pipeline Sole Pipeline from Alberta to from Alberta to West Coast West Coast

• • Express is Express is primary line to primary line to PADD IV PADD IV

• • Platte serves Platte serves large PADD II large PADD II market market

12

Corporate Update: Divestiture of U.S. Retail Operations

• Transaction:

Assets: U.S./Mexican LDCs, ~260,000 customers Buyer: GE Financial Price: $710M plus wc Close: anticipated in 1Q 2007

• Rationale:

— Attractive price, ~11x EBITDA

— Small footprint

— Provides platform for GE

13

Corporate Update: The Canadian Oilsands Opportunity

• Over $125 billion in announced oilsands projects by producers over the next 10 years

l Production projected to almost triple 2005­2015

• Restricting factors:

l Heavy­oil refining capacity

l Takeaway pipeline capacity

• Implications for U.S. Natural Gas Market

l Oilsands producers to become heavy users of natural gas

14

__________________________ All amounts in U.S. dollars unless otherwise noted. (a) Source: CAAP Moderate Case, July 2005 Crude Production and Supply Forecast 2005­2015. (b) Source: NEB 2003 study “Canada’s Energy Future, Scenarios for Supply and Demand to 2025”.

Note: Total discovered recoverable reserves of crude and bitumen (Saudi values are proven reserves, implying higher degree of certainty).

(c) Source: DBRS October 2005 industry study “The Canadian Oil Sands”.

345 315 270

130 115 100 100 93 40 32

(reserves (billions of barrels)

0 500

1,000

1,500 2,000 2,500 3,000

3,500 4,000

2001 2003 2005 2007 2009 2011 2013 2015

Oilsands Pentanes/Condensate Conventional Heavy Conventional Light/Med

(MBbl/d)

Canadian Crude Production by Type Canadian Crude Production by Type (a) (a)

Production Costs: Mining Production Costs: Mining (c) (c)

Price = 30­40% below WTI US $19­22/Bbl Cdn $22­26/Bbl Total Operating & Upgrade:

1 MMBbl/d Oilsands­only

2.7 MMBbl/d

Mining Mining Upgrading Upgrading Refining Refining

Oilsands ~10%

CAGR ‘05­‘15

CALGARY

EDMONTON

Peace River

Athabasca

Trans Mountain Pipeline

Corridor Pipeline

Express Pipeline

Alberta

HARDISTY

Cold Lake

0 50 100 150 200 250 300 350

Vene­

zuela

Canada

Saudi

Arabia

Russia

Iraq

UAE

Kuwait

Iran

USA

Libya

Bitumen Oil

World Oil & Bitumen Reserves World Oil & Bitumen Reserves – – Top 10 Top 10 (b) (b)

Oilsands Production Areas Oilsands Production Areas (c) (c)

FT McMURRAY

Canadian Oilsands: Supply

15

Major Canadian Oilsands Takeaway into the U.S. Major Canadian Oilsands Takeaway into the U.S.

__________________________ Note: Pipeline paths not drawn according to precise geographic location, but by general regional direction.

Fort McMurray

Cold Lake

Vancouver Anacortes

Guernsey Salt Lake City

Denver

Cushing

Chicago Detroit

Wood River

EAST

ERN CORRIDOR

PACIFIC

CORR

IDOR

(220 MBbl/d)

Midland

Patoka

Hardisty

Houston Freeport

Corpus Christi

Casper

Billings

PADD IV

PADD III

PADD II St. Paul

Regina

Toledo

Edmonton

SPEARHEAD

SOUTH

ERN ACCESS

TRANS

MOUNT

AIN

(225 MB

bl/d)

RANGELA

ND

(85 MBbl/d)

Calgary BOWRIVER

­ CEN

EX

(118 MBbl/d)

EXPRESS

(280 MBbl/d)

PLATTE (166 MBbl/d)

ENBRIDGE

(1,832 MBbl/d)

San Francisco

Los Angeles

El Paso

PADD V

Asia? 2.0 PADD II

2.6 Total 0.1 PADD V 0.5 PADD IV

Trunkline Capacity in to U.S.

(MMBbl/d)

California by water

Canadian Oilsands: Takeaway Capacity (PADDs II & IV Have the Most Access to Canada)

16 __________________________

Canadian Oilsands: KM Canada Opportunity ­ Trans Mountain Expansions

1,100 MBbl/d

400 MBbl/d

700 MBbl/d

l TMX1 – C$595 million ⇒ additional 75 MBbl/d l Pump Station Expansion, C$230

million, 35 MBbl/d, in­svc by April 2007

l Anchor Loop, C$365 million, 40 MBbl/d, in­svc at end of 2008

l TMX2 – Loop between Valemont & Kamloops and back to Edmonton, C$900 million, 100 MBbl/d by 2010

l TMX3 – Loop between Kamloops & Lower Mainland, C$900 million, 300 MBbl/d by 2011

l TMX North – Line between Valemont & Kitimat, C$2.0 billion, 400 MBbl/d

17

Canadian Oilsands: Implications for U.S. Gas Markets

• Oilsands producers will become heavy users of natural gas…

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1990 1992 1994 1996 1998 2000 2002 2004 2006E 2008E 2010E

Estimated Natural Gas consumption Estimated Natural Gas consumption in Alberta Oil Sand Projects in Alberta Oil Sand Projects (Bcf/d)

18

Canadian Oilsands: Implications for U.S. Gas Markets

•…but Oilsands use only one factor in supply / demand balance

• LNG

• New Pipeline Infrastructure

• MacKenzie Delta

• Alaska?

0 2 4 6 8 10 12 14 16 18 20

1998 1999 2000 2001 2002 2003 2004 2005 2010 2015 2020 2025 2030

(Bcf/d) Proposed Mackenzie Delta Production

Production

Consumption

Exports Forecast

Canadian Natural Canadian Natural Gas Exports Gas Exports

­1

0

1

2

3

4

5

1990 1995 2004 2010 2015 2020 2025

Canada

LNG

Mexico

Tcf

Forecast U.S. Natural Gas Supply by Source U.S. Natural Gas Supply by Source

19

Pipeline Management

Ray Miller

VP Pipeline Management

20

Pipeline Management l Spring/Summer 2006 Review l Winter 2006/07 Expectations l Summer 2007 First Look l Gas Quality Topics l Contact Lists

21

Spring/Summer 2006 Review

22

Spring/Summer 2006 Review l Transport Summary l Amarillo Line was highly utilized l Cross Haul Line was highly utilized l Gulf Coast Line fluctuated with market demand l Louisiana Line was highly utilized l Increased South Texas and TexOk deliveries l Increased Permian deliveries l Trailblazer was highly utilized

23

Spring/Summer 2006 Review l Storage Summary l Storage has been unpredictable l Strong price spreads to future months l Market volatility and weather sensitivity l Aquifers on target l Finally… injections in September

24

Spring/Summer 2006 Review

Market Storage

Field Storage

Nov Feb Apr Jun Aug Oct Dec Jan Mar May Jul Sep

Using Field (non­aquifer) to keep Market (aquifer) on target

Example Only

25

Spring/Summer 2006 Review

­50 ­40 ­30 ­20 ­10 0 10 20 30 40

2004 A

pr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2005 Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec

2006 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

(est) S

ep

(est) O

ct

BCF

Monthly Injections/Withdrawals

26

Spring/Summer 2006 Review Approximate Storage Balances on Nov 1st

0

50

100

150

200

250 1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

(est) 2006

BCF

Field Market

27

Spring/Summer 2006 Review l Major 2006 Projects Completed

l HP replacement/expansion and automation at Station 155 l HP expansion at Station 801 l Piping modifications at Station 154 l Piping modifications at Station 303 l Supply additions near Station 304 l Supply addition at Station 802 l Major unit repair at Station 602 l Automation replacement at Station 198 l Automation replacement at Station 106

l Integrity 2006 Projects Completed l GC projects between Stations 302 and 308 l Amarillo projects between Stations 199 and 113 l Chicago area projects on Volo and Crawford systems l OE #2 line project near Station 154

28

Spring/Summer 2006 Review l Major 2006 Projects Underway

l Electric system upgrades at Station 302 (Oct) l New HP installation at Columbus Junction storage (Oct) l HP replacement and piping changes at Sayre storage (Sep/Oct) l Piping modifications at Station 304 l New HP at Station 803 l Replace HP at Station 199 l Upgrade HP at Station 110 l HP replacement at Columbus Junction storage l Supply additions on Trailblazer l Class location regulation installation near Station 306

l Integrity 2006 Projects Underway l GC project near Station 310 l Amarillo project from between Station 112 and Station 192 l Chicago area project on Howard Street system

29

Spring/Summer 2006 Review l Major 2006 Projects Planned

l Permian line lowering near Station 169 (Sep) l Meter station replacement at N. Lansing storage (Oct/Nov) l Piping modifications at Station 342 (Sep) l Loop construction at N. Lansing storage l Supply additions in on GC system near Carthage l Replace HP at Station 300

l Integrity 2006 Projects Planned l Class location pipe replacement between Station 302 and 343 (Nov) l Piping modifications at Station 199 (Sep) l Piping modifications at Amarillo Mississippi River crossing (Oct) l Class location regulation installation near Station 302 (Oct/Nov)

30

Spring/Summer 2006 Review Filtration is Important!

31

Spring/Summer 2006 Review Running a Gauge Pig

32

Spring/Summer 2006 Review Storage work continues

33

Spring/Summer 2006 Review New HP Installations

34

Winter 2006/07 Expectations l Transport Expectations l Expect Amarillo Line to be highly utilized l Expect Cross Haul Line to be highly utilized l Expect Gulf Coast Line to swing with market demand

l Expect Louisiana Line to be highly utilized l LNG Influence? l Expect Trailblazer system to be highly utilized

35

Winter 2006/07 Expectations l Storage Expectations l Price influence l Market volatility continuing

l Weather influence l No consensus on weather patterns

l Reduced weekend/holiday demand

36

Summer 2007 First Look l Major Projects Planned

l HP expansion 346, 342, 343 and 302 l KMIP project work l Replace HP at Station 310 l Replace HP at Station 196 l Replace HP at Loudon storage l Replace HP at Herscher storage l Champaign lateral expansion project work l Amarillo interconnect with NNG in Iowa

l Integrity Projects Planned l GC from Station 311 to Station 113 l Amarillo project from Station 110 to Station 113 l Amarillo project from Station 196­ Station 107 l Louisiana project from Station 302 to Station 343 l Chicago area project on Volo system l Chicago area project on Cal #2 system

37

Summer 2007 First Look

2004 2005 2006 2007

Compression / HP Major Investment

38

Summer 2007 First Look Natural Apr 07, 1 month, Reroute GC #1, #2, & #3 lines crossing US 59 in, Marion County Texas Apr 07, 1 day, Cleaning pig runs, La Line #1, Station 343 to Station 342 Apr 07, 1 day, Station 155 annual ESD test and electrical circuit maintenance Apr 07, 1 day, Cleaning pig runs La Line #2, Station 343 to Station 342 Apr 07, 1 day, Station 112 annual ESD test and electrical circuit maintenance May 07, 1 day, Station 346 annual ESD test and electrical circuit maintenance May 07, 2 day, Station 343 annual ESD test and electrical circuit maintenance

Trailblazer Feb 06, 2 day, Cleaning pig runs from Rockport to Station 601 Mar 07, 2 day, Station 601 annual ESD test and electrical circuit maintenance unit #1 Mar 07, 2 day, Electrical circuit maintenance unit #2 Apr 07, 5 day, Change out turbine package on unit #2

Horizon No work scheduled at this time

Canyon Creek Compression No work scheduled at this time

As posted on KM EBB 09/06/06

39

Gas Quality Topics l Natural RP01­503 l 05 hearing to establish “safe harbor” dew point l Favorable decision by Administrative Law Judge l FERC has not acted on Natural’s tariff language

l Natural’s objectives have not changed l Gas Quality acceptable for safe and reliable operation l Gas Quality acceptable to downstream end use markets

l Industry Progress l NGC white papers’ acceptance l Working with downstream LDCs on Tariff specs l NAESB progress

40

NGPL 2006 Contact List Gas Control 24 hr 713­369­9400 Emer 800­733­2490 Pager 888­792­2669

Trennis Curry 713­369­9378 Cell 713­819­4577

John Heath 713­369­9348 Cell 713­823­6927

Danny Ivy 713­369­9311 Cell 713­829­2761

Ray Miller 713­369­9330 Cell 713­206­8338

Trans and Stor Services Paul Haas 713­369­3243 Cell 713­829­0462

Gene Nowak 713­369­9329 Cell 713­252­9759

Rick Clark 713­369­9340 Cell 713­907­6413

TASS Hotline 24 hr 713­369­9683

Dart Help Line 24 hr 800­258­3278

Account Services Dave Weeks 630­691­3616 Cell 630­399­1193

Donette Bisett 713­369­9316 Cell 713­724­6445

Mark Kissel 630­691­3641 Cell 630­269­1663

Field Operations Joe Mclaughlin ­ N. Region 630­691­3802 Cell 630­269­3006

Bob Montgomery ­ W. Region 806­379­2041 Ext 225 Cell 806­679­0320

Dennis Wamsley ­ S. Region 713­369­9502 Ext: 220 Cell 713­206­7889

Dee Bennett – Chicago Area 815­725­1405 Pager 888­372­6198 Cell 815­693­0517

Dwayne Burton 713­369­9356 Cell 281­414­2137

41

Supply and Market Growth Mark Kissel

VP Business Management

42

New Supply Mid­2006 vs. 2003

Natural Gas Pipeline Company of America

NGPL Gas Storage

North Lansing

Sayre

Loudon Cooks Mills

Herscher Columbus

City

Keota

Arkansas

Texas

New Mexico

Oklahoma

Kansas Missouri

Illinois

Iowa

Nebraska

Louisiana

Natural Gas Pipeline Company of America

NGPL Gas Storage

Natural Gas Pipeline Company of America

NGPL Gas Storage

North Lansing

Sayre

Loudon Cooks Mills

Herscher Columbus

City

Keota

Arkansas

Texas

New Mexico

Oklahoma

Kansas Missouri

Illinois

Iowa

Nebraska

Louisiana

North Lansing

Sayre

Loudon Cooks Mills

Herscher Columbus

City

Keota

North Lansing

Sayre

Loudon Cooks Mills

Herscher Columbus

City

Keota

Arkansas

Texas

New Mexico

Oklahoma

Kansas Missouri

Illinois

Iowa

Nebraska

Louisiana

Arkansas

Texas

New Mexico

Oklahoma

Kansas Missouri

Illinois

Iowa

Nebraska

Louisiana

Midcontinent Zone Increase Receipt Capacity: 1,669 MMcf/d Avg. Daily Receipts: 389 MMcf/d

Texok Zone Increase Receipt Capacity: 2,560 MMcf/d Avg. Daily Receipts: 459 MMcf/d

43

Market Growth

Ethanol Plants

Number of Annual Usage State Probable Plants (Bcf)

Nebraska 6 19.0 Iowa 2 4.7 Illinois 6 14.7

14 38.4

Direct Connect Power Plant Throughput

Delivery Zone 2004 (Bcf)

2004 CDDs

2005 (Bcf)

2005 CDDs

2006 (Bcf) (YTD)

2006 CDDs (YTD)

Normal CDDs

Market 2.3 615 12.1 1,166 9.5 880 830 Midcontinent 6.3 2,653 13.6 3,120 8.9 2,788 2,568

Texok 83.0 3,297 72.2 3,292 56.8 2,489 2,893 TOTAL 91.5 6,565 97.9 7,578 75.2 6,157 6,291

Cooling Degree Days based on Chicago for the Market Zone, Dallas for the Midcontinent Zone and Houston for the Texok Zone

44

Increased Utilization of System

500,000

600,000

700,000

800,000

900,000

1,000,000

1,100,000

2002 2003 2004 2005

Average Daily Throughput (Dth/d)

Amarillo Sys.@ Sta. 109 (upstream of Harper, IA) La Line Deliv in Seg. 23 & 24

Gulf Coast Sys. @ Sta. 307

45

Increase usage of Gulf Coast System during peak periods

Gulf Coast Utilization on days during December with 42 HDD’s at Chicago O’Hare.

600

700

800

900

1,000

1,100

1,200

1,300

1,400

1,500

1,600

2002 2003 2004 2005

Average Daily Throughput (Dth/d)

Gulf Coast System @ Sta. 307

46

MIDCONTINE

NT

PERM

IAN

TEXO

K

SOUTH T

EXAS

LOUISIANA

AMARILLO

IOWA­ILLINO

IS

GULF CO

AST

TEXOK

13

26

25

22

20

21

18

25

23 24

17

16

6 5 2

1

9

7

4

3

11

10

12

14

29

27

28

27

8

Trailblazer

15

Available Capacity Commencing September 2006

(As posted on NGPL Segment Capacity Grid, 9/14/06)

Amarillo System (Seg 14)

Sold Out

Amarillo System (Segment 11 – 13)

Long Term starting Apr 07 – 27,407 Dth/d

Permian System (Segment 7) Long Term starting

Sept 06 – 124,475 Dth/d

Seg 9 Backhaul Capacity Long Term starting

Sept 06 – 103,000 Dth/d Sept 06 Only – 121,000 Dth/d

Oct 06 – 221,000 Dth/d April thru Oct 2007 – 103,000 Dth/d April thru Oct 2008 – 143,000 Dth/d

Crosshaul ­ Seg 15 (from seg 6,5,2)

Sold Out

South Texas (seg 18) Long Term starting Sept 06 – 3,840 Dth/d

South Texas (seg 20 & 22) Long Term starting Sept 06 ­ 43,962 Dth/d

Gulf Coast System

Seg 27 – 28

Long Term – Sold Out

Sept 06 Only – 162,052 Dth/d

Oct 06 Only – 112,442 Dth/d

March 07 Only – 70,000 Dth/d

TexOk/Arkoma – Segments 16 & 17

Sold Out

Louisiana Leg (Segments 25, 23, & 24) Sold Out

47

Panel Discussion Storage Development

Ron Brown, KMI Pat De Ville, Enstor

Paul Korman, Van Ness Feldman Bill McCartney, Vitol S.A., Inc.

48

Business Development

Steve Harris

VP Business Development

49

Topics of Discussion l Committed Projects l Kinder Morgan Rockies Express Pipeline l Kinder Morgan Louisiana Pipeline l NGPL LA Line Expansion l NGPL Segment 17 Expansion

l Proposed Projects l KM Midcontinent Express Project l KM Fayetteville Pipeline Project l KM Carthage Project

l Ethanol Projects l Supply Additions l 2005 Interconnects l 2006 Interconnects

50

Rockies Express Pipeline Project Staging

51

Rockies Express Project Overview l Rockies Express (REX): 1.8 Bcf/d l REX Zone 1 (formerly Entrega) l 130 miles of 36” pipeline from Meeker, Co to Wamsutter, WY

l 190 miles of 42” pipeline from Wamsutter to Cheyenne Hub

l REX Zones 2 and 3 l 1,350 miles of 42” pipeline from Cheyenne Hub to Clarington, OH

l Overthrust Capacity Lease l 625,000 Dth/d of capacity from Opal, WY to Wamsutter l Installation of approx. 70 miles of 36” pipeline from Kanda, WY to Wamsutter

52

REX Shippers

53

Kinder Morgan Louisiana Pipeline

! ?

! ?

! ?

! ?

! ?

! ?

! ?

! ?

! ?

! ?

! ?

! ?

! ?

! ? ! ?

! ?

Texas Louisiana

CGT Delivery Point

FGT Delivery Point

ANR Delivery Point

NGPL Delivery Point

Sabine Pass LNG Terminal Leg 1 Receipt Point Leg 2 Receipt Point

TETCO Delivery Point

Sabine Delivery Point

Transco Delivery Point

ANR Delivery Point

Trunkline Delivery Point

Tennessee Delivery Point

Bridgeline Delivery Point

Southwest Loop Delivery Point

Texas Gas Delivery Point

Southwest Loop Johnson's Bayou Delivery Point Cameron

Vermilion

Calcasieu

Acadia

Allen Beauregard

Orange

Jasper

St. Landry

Jefferson Davis

Newton

Jefferson

Lafayette

Evangeline

Iberia

St. Martin

Tyler

West Cameron East Cameron

Lafayette

Lake Charles

Port Arthur

Eunice

Sulphur

Nederland

Crowley

Orange

De Quincy

Opelousas

Jennings Welsh

Rayne

Vidor

Abbeville Kaplan

Westlake

Church Point

Vinton

Groves

Mamou

Kinder

Lake Arthur

Breaux Bridge

Gueydan

Carencro

Kirbyville

Arnaudville

Port Barre

Henry Hub

Proposed KM Louisiana Pipeline Leased Capacity on NGPL Proposed Interconnects Natural Gas Pipeline Company of America Fish and Wildlife Service National Park Service

54

Kinder Morgan Louisiana Pipeline l Capital Cost ­ $490 MM l Receipt Point: Cheniere Sabine Pass LNG Terminal l Delivery Point: Various inter/intra­state pipelines and ending in Evangeline

Parish, LA. l Capacity

l Rayne Lateral (Leg 1) l 137 miles 42” l 2,130,000 Dth/d

l NGPL Lateral (Leg 2) l 1 mile 36” l 1,597,500 Dth/d l Includes 200,000 Dth/d of lease capacity on NGPL to Johnson’s

Bayou Southwest Loop area l Tie­in Facilities between Rayne and NGPL Laterals, 1,065,000 Dth/d

Sabine Pass Facility

NGPL Lateral 1, 597,500 Dth/d Rayne Lateral

2,130,000 Dth/d

55

Kinder Morgan Louisiana Pipeline Procedural Timeline

September 2006: File FERC Application

June 2007: Receive FERC Certificate

July 2008: Begin Construction

October 1, 2008: In­service for NGPL Lateral (Leg 2)

April 1, 2009: In­service for Rayne Lateral (Leg 1 ­ available for service as early as September 2008)

56

20

0,000 Dth/d Expansion

304

302 343

342 346

304

302

343 342 346

340

303

Install Piping for Bi­directional Compression

Upgrade & add HP

Replace HP

Upgrade & add HP

Upgrade & add HP

Add 3.14 mile Loop

Henry

Henry

NGPL Louisiana Line Expansion

57

NGPL Louisiana Line Expansion

§ Capacity is 200,000 Dth/d and is fully subscribed § Contract path was sourced from the north end of the Gulf Coast Line

§ Binding Open Season was for 3 weeks ending May 2, 2006

§ Estimated In­service is January 1, 2008 § Capital Cost estimate is $68.7 MM

58

" )

" )

" )

" )

" )

" )

" )

NGPL Segment 17 Expansion Project

Enogex Bryan

Sta. 801

New Compressor Sta. 803

Segment 17 Expansion

Sta. 802 Capital Cost: $15.5 MM

Capacity: 140 MMcf/d (fully subscribed)

HP: 9,500 (new Sta. 803)

Term of Contracts: 10 years

In­Service: November 2006

59

+ U

+ U

+ U

+ U

+ U + U

+ U + U

+ U

+ U + U

+ U

CROSSTEX

CROSSTEX

NGPL

ENOGEX

TGT

ANR NGPL

SONAT

GULF SOUTH TGP

COLUMBIA GULF

TETCO

TRUNKLINE

Fort Worth Dallas

Waco

Shreveport Monroe

Denton

Tyler

Sherman

Longview

Alexandria

Pine Bluff

Texarkana

KM Midcontinent Express Pipeline

306

305

812 801

155

802

North Lansing 388

304

Carthage

Perryville

Oklahoma

Texas

Louisiana

Arkansas

Proposed Mid­continent Express Pipeline Proposed MCEX Receipt Proposed MCEX Delivery NGPL NGPL Storage NGPL Compressor Station Barnett Shale Hub

60

KM Midcontinent Express Project Specifics

l Capacity: 1.1 Bcf/d l Route: Sherman (Barnett Shale) to Bennington area

through Perryville to CGT l 343 Miles l 39 miles of 36” pipe l 304 miles of 42” pipe

l Contract Term: 10 years l In­service Date: March­August 2009 l 3 Receipt Points l 9 Delivery Points

61

KM Midcontinent Express Pipeline Project Timeline

October 2­27, 2006: Conduct Open Season for capacity

February 2007: NEPA Pre­Filing Application

September 2007: File FERC Application

July 2008: Receive FERC Certificate

August 2008: Begin Construction

January 2009: In­service 802 to NGPL Atlanta

March­August 2009: In­service for remaining capacity

62

KM Fayetteville Pipeline

!

!

!

!

! !

!

!

!

!

Arkansas Mississippi

Tennessee

Memphis

Little Rock

Jackson

White

Lee

Panola

Tate Monroe

Lafayette

Tunica

Calhoun

Conway

Van Buren

Woodruff

Cleburne

St. Francis

CGT

TGP

ANR

MRT

SWEC

TGP

TGT

NGPL

TETCO

TRUNKLINE

Opt 2: Basin to Texas Gas

Opt 3: Basin to Columbia Gulf

307

306

Opt 1: Basin to NGPL

Proposed Fayetteville Pipeline Proposed Interconnect NGPL NGPL Compressor Station Fayetteville Shale Area

63

KM Fayetteville Pipeline

l Three construction options l 65 miles of 24” or 30” l 147 Miles of 24” or 30” l 212 miles of 24” or 30”

l Capacity of 500 MMcf/d to 900 MMcf/d l Anticipated In Service of 1/1/09

64

KM Carthage Project

DELIVERY ­ Centerpoint ­ Gulf South

Henderson

Panola

Lakeport

Tatum

Beckville

Easton

Panola

Rusk

Harrison

Caddo

Gregg

De Soto

Carthage Hub

Proposed Carthage Pipeline NGPL NGPL Compressor Station

304

Texas Louisiana

• Two capacity options ­ 200 MMcf/d or 300 MMcf/d

• 13 Miles of 20” Pipe • 3,500 HP to 6,000 HP of Compression • Proposed Contract Term of 5 Years

65

§ With the passage of the Energy Policy Act of 2005 and enactment of the nationwide Renewable Fuels Standard (RFS), USA production of ethanol is mandated to meet 7,500 million gallons per year by 2012.

§ USA Production (MGPY): § Total US Current Capacity at 101 ethanol bio­refineries 4,829.9 § Total US Under Construction (42)/Expansions (7) 2,880.5 § Total USA Capacity 7,710.4

Ethanol Plants

Source: www.ethanolrfa.org

66

Ethanol Plants

67

Ethanol Plants

Potential NGPL & Trailblazer Ethanol Plants Potential NGPL & Trailblazer Ethanol Plants Million Gls. Million Gls.

Location Pipeline Per Year MDth/d Location Pipeline Per Year MDth/d

1 Adams, NE Trailblazer 100 10.0 18 Hastings, NE Trailblazer 80 8.0 2 Annawan, IL NGPL 50 5.0 19 Henry Co, IL NGPL 50 5.0 3 Carleton, NE Trailblazer 50 5.0 20 Holdrege, NE Trailblazer 80 8.0 4 Centralia, IL NGPL 50 5.0 21 Kearney, NE Trailblazer 40 6.0 5 Champaign, IL NGPL 110 11.0 22 Madrid, NE Trailblazer 45 4.5 6 Corning, IA NGPL 60 6.0 23 Montgomery IA NGPL 50 4.5 7 Creston, IA NGPL 72 7.2 24 Osceola, IA NGPL 50 4.3 8 DeWeese, NE Trailblazer 100 12.5 25 Port Will County NGPL 100 10.0 9 DeWitt, NE Trailblazer 80 8.0 26 Princeton, IL NGPL 100 10.0 10 Elwood, NE Trailblazer 100 12.0 27 Putnam Co. IL NGPL 50 5.0 11 Endicott, NE Trailblazer 80 8.0 28 Rochelle, IL NGPL 50 5.0 12 Fairmont, NE Trailblazer 100 10.0 29 Salem, IL NGPL 50 5.0 13 Fillmore Co, NE Trailblazer 50 5.0 30 Shenandoah, IA NGPL 80 7.0 14 Ford Co., IL NGPL 100 10.0 31 Shickley, NE Trailblazer 100 10.0 15 Galva, IL NGPL 100 10.0 32 Thayer County, NE Trailblazer 100 10.0 16 Gibson City, IL NGPL 40 4.2 33 Wahoo, NE NGPL 30 3.0 17 Grand Island, NE Trailblazer 80 8.0 34 Wilroads, KS NGPL 50 5.0

Total 2,427 247.2

68

NGPL 2005 Interconnects

Executed Agreements Capacity

Company Co/State Pipe R/D MMcf/d Cimarex Kiowa, Ok NGPL Receipt 3 Copano/Live Oak Duval, TX NGPL Receipt 9 Crosstex (North TX PL) Lamar, TX NGPL Receipt 250 Dynegy Saunders Lea, NM NGPL Receipt 50 Enbridge Wheeler, TX NGPL Receipt 200 Enbridge Wheeler, TX NGPL Receipt 50 Enterprise Eddy, NM NGPL Receipt 92 Houston Pipeline Angelina, TX NGPL Receipt 200 KMNTP Lamar, TX NGPL Receipt 150 Marathon Caddo, OK NGPL Receipt 10 North Fork Gathering Beckham, OK NGPL Receipt 25 Panda Hereford Deaf Smith, TX NGPL Deliver 11 Sanguine Caddo, OK NGPL Receipt 20 Semkan Edwards, KS NGPL Rec/Del 8 Superior Latimer, OK NGPL Receipt 100 Transwest (Del to Rec) Eddy, NM NGPL Receipt 128

Total 1,306

69

NGPL 2006 Interconnects

Executed Agreements Capacity

Company Co/State Pipe R/D MMcf/d Agave Eddy, NM NGPL Receipt 40 Agave Eddy, NM NGPL Receipt 40 ETC – Atlas Pipeline Beckham, Ok NGPL Receipt 140 Enbridge Panola, TX NGPL Receipt 500 Enbridge Wheeler, TX NGPL Receipt 100 Famcor Oil, Inc San Jacinto, TX NGPL Receipt 1 GMT Exploration Rusk, TX NGPL Receipt 20 Houston Pipeline Panola, TX NGPL Receipt 664 Superior Beckham, OK NGPL Receipt 10 TexCom Operating, LLC Victoria, TX NGPL Receipt 2 Transwestern Eddy, NM NGPL Receipt 128 BP America Washita, OK NGPL Receipt 45 Craton Energy Panola, TX NGPL Receipt 22 Chesapeake Washita, TX NGPL Receipt 3 Millennium Energy Nacogdoches, TX NGPL Receipt 15 Marathon Oil Washita, OK NGPL Receipt 25 Sauguine Energy Grady, OK NGPL Receipt 5

Total 1, 760

70

Attendees Alliant Energy

Jeff Hicken

Ameren James Massmann

Ameren AEGC Bradley Kloeppel Kathy Reeves

Anadarko Tracie Steele

Aquila Networks Dave Francis

BP Canada Energy Marketing Corp. Tracy Schwartzkopf Bill Griffith

BP Energy Company Reyna Cabrera

Cargill Matt Millard

CenterPoint Energy Gas Services John Hoehn

CenterPoint Energy Minnesota Gas Anne Wilson

Chevron Natural Gas Tiffany Smith

Cincinnati Gas and Electric Uma Nanjundan

Conoco Phillips Bob Culler

Constellation Energy Commodities Group

Darren Espey Andrew Swinick

Coral Energy Resources Nick Sherell

Dominion Retail, Inc. Peggy Ghannam

Eagle Energy Partners Tom Wolf

Enstor Patrick De Ville

Grain Processing Corp. Leona Fortenbacher

Kansas Energy Partners Mark Gurley Derek McKenzie

Kinder Morgan Annette Anderson Carol Bae Dee Bennett Ron Brown Dwayne Burton Andy Edling David Devine David Anderson Donette Bisett Dayna Burnett Steve Harris

Kinder Morgan (cont’d) Sam Hosper Danny Ivy Steve Kean Mark Kissel Jim McElligott Joe McLaughlin Menis Mark Ray Miller Tom Mikucki Bruce Newsome Paul Robey Frank Strong David Weeks Lonnie West

Louis Dreyfus Paul Garner

Masefield America Kevin Coyle

MidAmerican Energy Tom Gesell

National Fuel Marketing Courtney Mathews George Roesch

Nexen Marketing USA Tanya Kingwell

Nicor Enerchange Steve Cittadine John Nowak Mark Rueff

71

Attendees Nicor Gas

Clint Whybark Len Gilmore Gary Bartlett Maureen Williams Michelle Carbone Joe Deters Shirley Holmes Kathy Hopkins David Hughes

NIPSCO Steve Auld Cecelia Largura

Niska Gas Storage LLC Karen Politsky Sheri Horniachek

Occidental Energy Marketing, Inc. Jason Novosad Gene Krupinski

OGE Resources Tracy Holmes

Oneok Energy Services Co. L.P. John Minger Jill Roberson Chuck Kelley

Peoples Energy Wholesale Marketing Todd Duffield Steve Richman

Peoples Gas Light & Coke Rich Dobson Bill Quigley Tom Smith Tom Zack

PPM Energy Zarin Imam

Reliant Energy Yvy Hales

Sempra Energy Trading Corp. Scott Walton

Sequent Energy Mgmt. Chris Holeman

Shell Trading Kurt McKnight

Suez Energy Marketing Jason Evans

Tenaska Marketing Ventures Troy Davis Lori Bruck Scott Hibbard

University of Illinois Lyle Wachtel

Van Ness Feldman Paul Korman

Virginia Power Energy Marketing Tom Dickey Mark Moyer

Vitol S.A., Inc. Bill McCartney

We Energies Tim McCollow Peter Newman Richard Quick Jim Voss Bob Whitefoot

Williams Energy Gary Booker

WPS Energy Services Mike Bottger Steve Vesely