Kinder Morgan profit rises 4.1% on gas, fuel demand
Oct 20 (Reuters) - Kinder Morgan Inc reported a 4.1% jump in quarterly adjusted profit on Wednesday, as rising demand for gas and fuel boosted the pipeline operator's volumes.
A scramble for gas in Europe and Asia has steadily boosted exports of liquefied natural gas from the United States, while demand for refined products has also recovered from pandemic lows, boosting transportation volumes of both.
Adjusted profit rose to $505 million, or 22 cents per share, in the third quarter ended Sept. 30, from $485 million, or 21 cents per share, a year earlier.
Kinder Morgan, which transports nearly 40% of the natural gas consumed in the United States, said natgas transport volumes rose 3%, while total refined product volumes rose 12%. (Reporting by Ruhi Soni in Bengaluru; Editing by Devika Syamnath)
