Trans Mountain Receives Final Federal Approval Of Expansion

Kinder Morgan, Inc. (NYSE: KMI) today announced that the Government of Canada has granted approval for the Trans Mountain Expansion Project in a landmark decision that affirms both the strength of the project and the rigor of the review process it has undergone.

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"This is a defining moment for our project and Canada's energy industry," said Ian Anderson, president, Kinder Morgan Canada. "This decision follows many years of engagement and the presentation of the very best scientific, technical and economic information. We are excited to move forward and get this project built, for the benefit of our customers, communities and all Canadians."

The Trans Mountain Expansion Project is an opportunity for Canada to access world markets for its resources by building on an existing pipeline system. The $6.8 billion CAD expansion will result in direct and lasting benefits, including $46.7 billion in taxes and royalties for governments, more than 800,000 person years of employment over the life of the project and enabling producers to capture an additional $73.5 billion in revenues.

This final federal approval triggers a number of next steps. Trans Mountain will continue to seek all necessary permits, and is planning to begin construction in September 2017, with an in-service date for the twinned pipeline expected in late 2019. Other next steps will include a final cost estimate review with shippers committed to the Project and a final investment decision by the Kinder Morgan Board of Directors.

"This project has evolved substantially as a result of the scrutiny it has undergone and the input received from communities, Indigenous and Metis groups, and individuals. No voice has gone unheard, and we thank everyone who has helped make this Project better," added Anderson. "We have approval from the NEB with 157 Conditions that we're committed to meeting. We've seen all levels of government coming together to address issues raised over the course of our review, including newly announced enhancements to Canada's marine safety regime, provincial and federal climate change strategies, and deeper consultations with Aboriginal communities. In today's announcement the Federal Government commits to implementing the Recovery Plan for the Southern Resident Killer Whale and the establishment and funding for an Indigenous advisory and monitoring committee. Taken together, we're confident we will build and operate this project in a way that respects the values and priorities of Canadians."

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