The Globe and Mail reports in its Thursday edition that Pembina Pipeline is buying Kinder Morgan Canada and the U.S. portion of a key condensate pipeline for $4.35-billion, a deal that will bolster its position in the high-demand oil storage and transport business. The Globe's Jeffrey Jones writes that for Houston-based Kinder Morgan Inc., the sale marks its exit from Canada after it sold its largest asset -- the Trans Mountain oil pipeline -- to Ottawa last year for $4.4-billion. It follows a formal process to seek buyers for the majority-owned Canadian operation that ended in the spring after failing to attract acceptable proposals. Calgary-based Pembina is acquiring transport and storage operations, largely backed by long-term contracts that shield it from the vagaries of commodity-price swings. The mid-stream business has been a bright spot in an energy industry that has been under severe pressure because of tight capacity to move oil and gas to markets outside Canada. Its stock is up 20 per cent this year against a backdrop of sharp declines throughout most of the producing sector. Kinder Morgan Canada shares surged 32 per cent to $14.45 Wednesday. The acquisition will allow Pembina to increase its dividend.