Kinder Morgan Makes $3.22 Billion Pipeline Purchase

Reuters reported that Kinder Morgan Energy Partners LP plans to buy natural gas pipeline operator Copano Energy LLC for $3.22 billion in effort to take advantage of existing infrastructure to transport gas from Texas and Oklahoma.

As quoted in the market report:

The deal is the latest in a flurry of multi-billion-dollar takeovers in the U.S. pipeline industry over the past two years as companies rush to cash in on a shortage of pipelines to move gas and gas liquids such as ethane and propane.

To view the whole Reuters report, click here.