Kinder Morgan to buy Copano

Investor's Business Daily

Natural gas transport and storage company Kinder Morgan (KMI) said it will buy privately held gas pipeline operator Copano Energy for $3.22 bil, adding an ability to tap growing demand for pipelines to transport supplies from shale fields of Texas and Okla. Kinder Morgan won approval last May for its $23 bil buy of El Paso Corp. Companies are rushing to cash in on a shortage of pipelines to move natural gas from fields estimated to hold the world's largest natgas reserves. Kinder Morgan rose 1.2% to 37.73.

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