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Kinder Morgan nabs U.S. pipeline networks

Aug. 14, 2012 at 7:04 AM   |   Comments

HOUSTON, Aug. 14 (UPI) -- Pipeline company Kinder Morgan announced it completed acquisitions regarding pipeline systems in the United States for $6.2 billion.

Kinder Morgan Energy Partners announced it took a 100 percent stake in the Tennessee Gas pipeline, a 13,900-mile network that carries 7.5 billion cubic feet of gas per day from the southern U.S. coast to the northeast. The company took a 50 percent stake in the El Paso Natural Pipeline, a 10,200-mile network for Western states, from parent company Kinder Morgan Inc.

Kinder Morgan Energy Partners owns and operates about 29,000 miles of pipelines in the United States.

In Canada, the company aims to build a parallel line to its Trans Mountain oil pipeline. A series of pipeline projects slated for Canada would carry so-called tar sands oil from Alberta to the western coast for exports to Asian markets.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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