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Kinder Morgan Invests 4.7B in Gas Pipelines

Kinder Morgan approved 4.7 billion dollars for two natural gas pipeline projects to meet rising demand from data centers and power plants. The firm also beat quarterly profit estimates, sending shares up 2.7 percent in extended trading.

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The headquarters of U.S. energy exporter and pipeline operator Kinder Morgan Inc. is seen in Houston, Texas, U.S. September 27, 2020. REUTERS/Gary McWilliams/File Photo

KINDER MORGAN INC approved $4.7 billion for two major natural gas pipeline joint ventures on Wednesday, driven by surging demand from power plants and data centers. The investment pushed the pipeline operator's project backlog to a record $14.4 billion. Shares rose 2.7% in extended trading after quarterly profits beat analyst estimates.
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