(Adds shares and details about results and deal)
July 15 (Reuters) - Kinder Morgan Inc said it wouldbuy the 49 percent stake that it does not already own in naturalgas joint venture Elba Liquefaction Co from Royal Dutch ShellPlc, and it raised its dividend.
Kinder Morgan said it expects to invest $630 million in Elbaterminals, bringing its total investment in the project nearSavannah, Georgia to $2.1 billion.
The deal shows the energy sector's appetite for fast-growingnatural gas logistics and exports. Marathon Petroleum Corp bought natgas processor MarkWest Energy Partners LP in a $15.6 billion deal earlier this week.
Kinder Morgan, which last year put all of its publiclytraded partnerships into one corporate parent company, raisedits quarterly divided by 14 percent to 49 cents per share.
The company said it continued to remain on track for 2015dividend target of $2 per share.
Shares of Kinder Morgan were marginally up at $37.83 inextended trading on Wednesday.
Kinder Morgan's net income attributable to shareholders fell29 percent to $333 million in the second quarter ended June 30,from the first quarter ended March 31.
Excluding items, earnings from natgas pipelines, thecompany's biggest business, fell 14.6 percent to $928 million.
Earlier this year, Kinder Morgan entered North Dakota'sBakken shale with a $3 billion acquisition of Hiland Partners, apipeline and logistics company.
The company said growth in its natgas pipeline unit was"partially affected" in the second quarter due to weak commodityprices.
Earnings in its carbon-dioxide unit fell to $240 millionfrom $281 million. (Reporting by Tanvi Mehta and Sneha Banerjee in Bengaluru;Editing by Maju Samuel)
