Kinder Morgan to purchase its pipeline, storage companies.

Author:Permenter, Kate
Position::Newsreel
 
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Oil and gas pipeline and storage companies controlled by Kinder Morgan but traded separately will combine to become the fourth-largest U.S. energy company based on market value.

Houston-based Kinder Morgan Inc. said the total purchase price of Kinder Morgan Energy Partners LP (KMP), Kinder Morgan Management LLC (KMR) and El Paso Pipeline Partners LP (EPB) is $71 billion, including $27 billion of assumed debt.

The combined Kinder Morgan entities own an interest in or operate about 80,000 miles of pipelines and 180 terminals. Kinder Morgan's pipelines transport natural gas, gasoline, crude oil...

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