Trans Mountain Pipeline ULC (Trans Mountain) operated by Kinder Morgan Canada and owned by Kinder Morgan Energy Partners, L.P. (NYSE: KMP), today filed a Facilities Application with its regulator, the National Energy Board (NEB), for authorization to build and operate the necessary facilities for the company’s proposed Trans Mountain expansion project.
The application addresses all issues previously identified by the NEB, including environmental, socio-economic, Aboriginal engagement, landowner and public consultation, marine risk assessments and engineering components of the proposed expansion project. With this filing, the proposed project will undergo a comprehensive public regulatory review.
“For the past 18 months we have engaged extensively with landowners, Aboriginal groups, communities and stakeholders along the entire proposed expansion route, and marine communities, and have carefully considered the input received during this period of study and dialogue,” said Ian Anderson, president of Kinder Morgan Canada. “Our engagement efforts will continue beyond this filing leading up to the NEB hearing as we consider further input that is critical to our planning on this project.”
The next step in this process will be for the NEB to establish a hearing schedule that corresponds to the federal government’s legislated 15-month review and decision timeframe. If approvals are received, the expansion is expected to be operational in late 2017.In spring 2012, Kinder Morgan Canada announced it would move forward with its proposed plans to expand the existing Trans Mountain pipeline system between Edmonton, Alberta, and Burnaby, British Columbia, following strong commitments received from its customers. Thirteen companies in the Canadian producing and oil marketing business signed firm contracts bringing the total volume of committed shippers to approximately 708,000 barrels per day (bpd). Kinder Morgan Canada received approval of the commercial terms related to the expansion from the NEB in May of this year. The proposed $5.4 billion project will increase capacity on Trans Mountain from approximately 300,000 bpd to 890,000 bpd.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts