On Oct. 6, the Florida Public Service Commission approved a transportation tariff for Coastal Connect Services, a subsidiary of Space Exploration Technologies (NASDAQ: SPCX), aka SpaceX, to move forward with a pipeline to its Cape Canaveral site. As part of this, SpaceX wants to build a 32-mile pipeline in Brevard County to tap into the Florida Gas Transmission Network (FGT), a roughly 5,300-mile interstate pipeline system jointly owned by pipeline operators Kinder Morgan (NYSE: KMI) and Energy Transfer (TXSE: ET) . This will help the company secure fuel at its Cape Canaveral location as it looks to ramp up Starship launches. But what does it mean for Kinder Morgan and Energy Transfer?
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