Tennessee Gas Pipeline Co, L.L.C.

Northeast Energy Direct (NED) Project

Project Update

Platts 9th Annual Pipeline Development and Expansion

September 22, 2014

Curtis Cole

Forward-Looking Statements / Non-GAAP Financial Measures

This presentation contains forward-looking statements. These forward-looking statements are identified as any statement that does not relate strictly

to historical or current facts. In particular, statements, express or implied, concerning future actions, conditions or events, future operating results or

the ability to generate revenues, income or cash flow or to make distributions or pay dividends are forward-looking statements. Forward-looking

statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions or events and future

results of operations of Kinder Morgan Energy Partners, L.P., Kinder Morgan Management, LLC, El Paso Pipeline Partners, L.P., and Kinder Morgan,

Inc. may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond

Kinder Morgan's ability to control or predict. These statements are necessarily based upon various assumptions involving judgments with respect to

the future, including, among others, the ability to achieve synergies and revenue growth; national, international, regional and local economic,

competitive and regulatory conditions and developments; technological developments; capital and credit markets conditions; inflation rates; interest

rates; the political and economic stability of oil producing nations; energy markets; weather conditions; environmental conditions; business and

regulatory or legal decisions; the pace of deregulation of retail natural gas and electricity and certain agricultural products; the timing and success of

business development efforts; terrorism; and other uncertainties. There is no assurance that any of the actions, events or results of the forward-

looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Because of these

uncertainties, you are cautioned not to put undue reliance on any forward-looking statement. Please read "Risk Factors" and "Information Regarding

Forward-Looking Statements" in our most recent Annual Reports on Form 10-K and our subsequently filed Exchange Act reports, which are available

through the SEC’s EDGAR system at www.sec.gov and on our website at www.kindermorgan.com.

We use non-generally accepted accounting principles (“non-GAAP”) financial measures in this presentation. Our reconciliation of non-GAAP financial

measures to comparable GAAP measures can be found in the appendix to this presentation and on our website at www.kindermorgan.com. These

non-GAAP measures should not be considered an alternative to GAAP financial measures.

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Kinder Morgan: North American Assets

3

4th largest energy company in North

America with combined enterprise

value of approximately $105 billion

Largest natural gas network in U.S.

— Own an interest in / operate

approximately 68,000 miles of natural

gas pipeline, and 643 Bcf of storage,

incl. 18 Bcf of LNG storage

— Connected to every important U.S.

natural gas basin, including: Eagle

Ford, Marcellus, Utica, Uinta,

Haynesville, Fayetteville, Barnett

Largest independent transporter of

petroleum products in U.S.

— Transport ~2.3 MMBbl/d (b)

Largest transporter of CO2 in U.S.

— Transport ~1.3 Bcf/d of CO2 (b)

Largest independent terminal operator

in U.S.

— ~180 liquids / dry bulk terminals

— ~112 MMBbls dom. liquids capacity

— ~103 MMtons of dry bulk products

Only Oilsands pipe serving West

Coast

— TMPL transports ~300 MBbl/d to

Vancouver / Washington State;

expansion under way increasing

capacity to 890 MBbl/d

TGP System Overview

Market Area Supply Trends

Overall Annual Throughput

4

System Overview

13,900 Miles Pipe Facilities

79 Bcf Storage

~8.0 Bcf/d Capacity

1.4 Million Horsepower

> 500 FT Customers

Supply & Market Rich

Northeast Production Marcellus and Utica

MARCELLUS

UTICA

UTICA

Utica Area Production

Production in initial stages

~ 4.0 Bcf/d by 2020

TGP well positioned

~0.6 Bcf/d current flow

~0.7 Bcf/d EOY 2014

Marcellus Area Production

Production continues to grow

~ 22 Bcf/d Dry Gas by 2020

TGP largest Marcellus transporter to date

~ 2.5 Bcf/d – Avg 2012 / 2013

~ 3.6 Bcf/d – Winter ’13/14

~ 4.0 Bcf/d – Winter ’14/15 (est)

5 Source: U. S. Capital Advisors

The Need for the Northeast

Energy Direct Project

Unprecedented gas capacity constraints on existing pipelines (Source: ISO-NE, EIA.gov)

Highest and most volatile gas commodity costs in the nation (Source: ISO-NE, EIA.gov)

Northeast Energy Crisis

Northeast Energy Crisis

The energy situation is likely to worsen if no new capacity is constructed;

• Currently, four large New England coal, oil and nuclear power plants are

planning to retire in the next few years due to increasing operating costs and

new emissions standards. This includes the Brayton Point and Salem Harbor

Plants in MA, the Norwalk Harbor Plant in CT, and the Vermont Yankee plant in

VT. (Source: ISO-NE, 2013)

• Unless new capacity is provided, New England’s power system will be

increasingly vulnerable to electric service disruptions and consumer prices will

increase greatly. The region will be at a large economic and competitive

disadvantage to neighboring states and regions due to high energy costs. (Source: New England States Committee on Electricity, 2014)

Solution:

• NESCOE, ISO-NE, and New England’s Governors have all publically

identified natural gas pipelines as a solution to the Northeast Energy

crisis.

According to the Federal Energy

Regulatory Commission (FERC), the New

England market is particularly at risk for

service disruption due to limited pipeline

capacity into the region. This not only

threatens reliability but also results in

more volatile natural gas and power prices

during periods of high demand.”

Energy infrastructure in the region is

simply inadequate to meet demand and

has been a key factor in the energy price

volatility.”

LETTER FROM THE NEW ENGLAND U.S. SENATE

DELEGATION TO DEPARTMENT OF ENERGY

SECRETARY MONIZ – December 13, 2013

“

“

Northeast Energy Crisis

• In Dec. 2013, New England Governors

called attention to the shortage of energy

infrastructure.

• An open letter was signed by Governors

Malloy (CT), LePage (ME), Patrick (MA),

Hassan (NH), Chafee (RI), and Shumlin

(VT).

• “To ensure a reliable, affordable and

diverse energy system, we need

investments in additional energy

efficiency, renewable generation,

natural gas pipelines, and electric

transmission.”

• “These investments will provide

affordable, clean, and reliable energy

to power our homes and businesses;

make our region more competitive by

reducing energy costs; attract more

investment to the region; and protect our

quality of life and environment.”

Governors’ Statement on

Northeast Energy Infrastructure

New England / Northeast Trends

New England’s Gas Burn:

• ~ 52%: Gas-fired electricity generated 2013 (Source: ISO-NE)

• ~ 95%: TGP average Z6 winter load factor

• Various IT services curtailed most days

Supply Sources

• In 2012, the Northeast region received 60%

of its gas supply from Eastern US sources,

mainly shale formations. (Source: Navigant North

American Natural Gas Market Outlook, Spring 2013)

• It is estimated that by 2022, based on

current trends and source supply that the

Northeast will receive 92% of ifs gas supply

from Eastern US sources. (Source: Navigant

North American Natural Gas Market Outlook, Spring 2013)

New England Has Not Developed Gas

Infrastructure to Keep Pace With Growth of Gas-fired Generation

Source: ISO-NE

(Sept 2014)

Since 1995, New England has built 25 natural gas-fired power plants to replace an

old fleet of huge oil and coal-fired generators, but hasn’t expanded its natural gas

pipeline capacity to keep pace with its demand for natural gas

Current Pipeline Infrastructure is

Inadequate to Serve Region’s Natural Gas-fired Generation

Source: ISO-NE (Sept 2014)

New England is overly reliant on “inadequately piped” natural gas-fired generation

$0.0000

$5.0000

$10.0000

$15.0000

$20.0000

$25.0000

Winter10-11

Winter11-12

Winter12-13

Nov-13 Dec-13 Jan-14 Winter13-14

Winter14-15

Winter15-16

New England New York

* *

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Historical Pricing • New England and New York traded at parity November 2013 NY/NJ expansions in-service • New York basis significantly reduced

• TGP’s NEUP Project

• Spectra’s NJ-NY project

• Transco’s NE Supply Link • New England basis remained high January 2014 price spikes

• Limited fuel switching capability in NY, demand for gas stayed high

• LDC’s with firm capacity to gate had minimal exposure to high spot prices

Forward pricing Winters 2014 - 2016

• New York: lower basis continues due to added infrastructure

• New England: basis remains strong and volatility increases

Basis Differential Solution

• TGP’s Northeast Energy Direct Project is expected to reduce the New England basis and price volatility, providing long-term measurable benefits to New England and Atlantic Canada markets

Pipeline Expansion - Pricing Impact

Mild Winter

High Power Load

Reduced LNG Imports

• Average settled cash prices for winters 2010/11 through 2013/14 (Source: ICE)

• Current forward index prices for winters 2014/15 through 2015/16 (Source: Inside FERC)

2013 Expansions to

NY/NJ, not NE

Extreme Peaks

* - Impact of NE

Infrastructure

constraints

*

TGP’s Recent Development

Project Dth/d Shippers In-Service Status

300L Project 350,000 EQT Energy Nov 1, 2011 In-service

NSD 250,000 Cabot, Seneca, Anadarko, Mitsui Nov 1, 2012 In-service

Northampton 10,400 Berkshire, Bay State Nov 1, 2012 In-service

MPP Project 240,000 Chesapeake, Southwestern Nov 1, 2013 In-service

NE Upgrade 636,000 Chesapeake, Statoil Nov 1, 2013 In Service

Utica Backhaul 500,000 Various Producers April 1, 2014 In-Service

Rose Lake 230,000 South Jersey Res., Statoil Nov 1, 2014 Under Construction

Uniondale 34,000 UGI Resources Nov 1, 2014 Under Construction

CT Expansion 72,100 Yankee, Southern Ct,

Connecticut Natural

Nov 1, 2016 P.A.s executed, Filed at FERC

Broad Run Projects 790,000 Antero Resources Nov 1, 2017 P.A.s executed, FERC Filing Prep

SW Louisiana Supply 900,000 Mitsubishi, MMGS Nov, 2017 P.A.s executed, FERC Filing Prep

NED - Market 1.2 – 2.2B In Active Development Nov 1, 2018 In Active Development

NED – Supply 0.8 – 1.0B In Active Development Nov 1, 2018 In Active Development

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Proven Track Record

Northeast Energy Direct

Project Introduction

Northeast Energy Direct Project – Full Path

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Transformative NED Project links Large Volume and

Prolific Marcellus supplies to New England

* Any final route determination is subject to surveying, land acquisition and

easements, environmental impact assessments, permitting and stakeholder

input. Final route will be finalized in any FERC Certificate that has been issued.

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Northeast Energy Direct Project – Supply Path

Project Details In-Service: November 2018

Scalable Volume: 0.6 – 1.0 Bcf/d

Provides incremental, direct

access to Northeast supply

~135 miles of greenfield 30” pipe

1440 psig

~32 miles of 36” looping (TGP 300

Line)

Three new C/S including booster

C/S to deliver gas into Iroquois at

Wright

Direct access to:

TGP’s existing regional

network

Broad range of suppliers

Large geographical area

The TGP Advantage Incremental supply liquidity at

Wright, NY

Serves existing and

proposed market needs

Access to various producers

Benefit of integration with TGP’s

existing pipeline network.

Proven on time project execution

Route previously reviewed

Provides Northeast customers with direct access to prolific

Marcellus supplies.

Provides access to a diverse set of producers located in the various

counties within the core of the Marcellus.

Zone 5

Pooling Point

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Northeast Energy Direct Project – Market Path

Project Details

In-Service: November 2018

Scalable Volume: 0.8 – 2.2 Bcf/d

~177 miles new and co-located

pipe

~73 miles of market delivery

laterals

Market Benefits

Liberates key bottlenecks

Supply Optionality @ Wright, NY

TGP 200 Line

NED – Supply

Constitution / Iroquois Gas

Reduces energy costs region-wide

Spurs economic growth region-

wide

Incrementally enhances TGP

operations and benefits entire

region Transformative NED Project is a long-term market solution that

provides the level of capacity to significantly reduce basis

differentials in New England and provides breadth of access to

current and new electric generation facilities

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Northeast Energy Direct Project – Market Path

NED Project Market Reach

TGP System (direct)

NY, PA, MA, CT, RI, NH

M&NP & PNGTS (indirect)

NH, Maine, Atlantic

Canada

Potential LNG Export

Algonquin via HubLine

Existing and Future Power

Generation

TGP System (direct)

AGT System (indirect via

AGT’s HubLine)

Pending NESCOE/FERC

action to allow cost

recovery

Expected growth due to

EPA Requirements

CNG/LNG Portable Pipeline Transformative NED Project benefits existing and future electric

gas-fired generation facilities across the Northeast Region

KM Announces Initial Anchor Shippers

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On July 30, 2014, Kinder Morgan

announced it had reached agreement

with key local natural gas distribution

companies (“LDCs”) throughout New

England to transport approximately

500,000 Dth/d of long-term firm

transportation on the Northeast

Energy Direct Project route.

These LDC’s include;

• The Berkshire Gas Company

• Columbia Gas of Massachusetts

• Connecticut Natural Gas Corporation

• Liberty Utilities (EnergyNorth Natural

Gas) Corp.

• National Grid

• Southern Connecticut Gas

Corporation

TGP Filed NEPA Pre-Filing Application with FERC

22

• On September 15, 2014, TGP filed

a letter at the FERC requesting to

use FERC’s pre-filing procedures for

the proposed Northeast Energy

Direct Project.

• During the pre-filing process, TGP

will engage with FERC staff and

interested stakeholders to refine the

proposed route and draft the

Environmental Report.

• Once pre-filing is complete, TGP will

file a formal certificate application

seeking FERC approval of the

project under Section 7(c) of the

Natural Gas Act, which TGP expects

to file in September 2015.

TGP Files Proposal with Maine PUC

23

• On Sept. 17, Tennessee Gas Pipeline

Company filed a proposal with the Maine

Public Utilities Commission offering the

State of Maine a long-term contract for

natural gas pipeline capacity with the goal

of lowering overall energy costs for Maine

consumers.

• “We believe this is an historic opportunity

for Maine, and we at Kinder Morgan

admire the combined efforts of the

governor, legislature and others to try to

lower the overall energy costs to Maine

families and businesses”

• “As a company that has served markets

in New England safely and reliably for

many decades, TGP is delighted to have

the opportunity to help Maine and its

consumers achieve their goals,” said

Kimberly S. Watson, president, East Region Natural

Gas Pipelines for Kinder Morgan

Northeast Energy Direct Project Overview

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New England region as a whole stands to benefit from the

proposed NED Project as it will enable New England to

sustain its electric grid, reduce emissions, and lower

energy costs to compete on a more level economic playing

field with other regions with access to low-cost gas

NED Project interconnects with Iroquois serving upstate

and downstate NY, CT, Eastern Canada

NED Project expands the existing TGP system within PA,

NY, MA, NH and Connecticut.

NED Project interconnects with Joint Facilities of M&NP

and PNGTS serving NH, ME, Atlantic Canada, and southern

New England via HubLine to Algonquin’s system

NED Project, as currently configured, would result in the

construction of approximately 418 miles of new pipeline,

additional meter stations, compressor stations and

modifications to existing facilities

The proposed NED Project could bring an estimated

increased capacity of up to 2.2 Bcf/d to the Northeast,

which is equivalent to an additional 1.5MM households

Action Timing

Outreach Meetings Ongoing

Route Selection and

Permit Preparation

Ongoing

Submit FERC pre-filing Letter Sept. 15, 2014

Agency Consultations Ongoing

File for FERC pre-filing October 2014

KM Open Houses Nov – Dec 2014

FERC Scoping Meetings Jan – Feb 2015

FERC filing Sept. 2015

Anticipated FERC approval November 2016

Proposed Start of Construction

Activity

January 2017

Proposed In-Service November 2018

Estimated Project Schedule

4

Contacts

Curtis Cole

Director, Business Development

Curtis_Cole@kindermorgan.com

713-420-3373 (office)

832-217-5161 (cell)