UPDATE 1-New Canada hearings for Kinder Morgan pipeline expansion route

Published 2017-08-31, 07:31 p/m
UPDATE 1-New Canada hearings for Kinder Morgan pipeline expansion route
KMI
-
KML
-

(Adds no immediate comment from company)

CALGARY, Alberta, Aug 31 (Reuters) - Canada's National Energy Board will hold a series of public hearings beginning this year to determine the route for Kinder Morgan Inc's KMI.N Trans Mountain pipeline expansion, the regulator said on Thursday.

While the expansion is federally approved, the NEB could force Kinder Morgan to tweak its route or impose further conditions, the regulator's chief environment officer, Rob Steedman, said in an interview.

Asked if the hearings would result in delays for Trans Mountain, Steedman said: "Some areas, there may be either negotiations or regulatory restrictions specified. We just don't know until we do each one individually."

Kinder Morgan Canada Ltd KML.TO , the local division of Houston's Kinder Morgan Inc (NYSE:KMI), did not immediately respond to a request for comment.

The company has said it plans to start construction in September but that most major work will not happen this year.

The NEB said Kinder Morgan had met conditions required for part of the project, an expansion of a west coast marine terminal.

The Trans Mountain expansion would nearly triple the capacity of the existing pipeline from Canada's oil heartland of Alberta to the west coast and significantly increase crude tanker traffic.

Canadian crude producers, whose landlocked product trades at a discount to the West Texas Intermediate benchmark, say they need more pipeline capacity to fetch better prices, but efforts to attain that have encountered fierce opposition from environmental and aboriginal groups.

The NEB announced the route hearings after Kinder Morgan's planned path received 452 statements of opposition.

The route hearings, some of which are scheduled for next year, could last weeks, although they do not have firm dates for conclusion or for when the NEB needs to render decisions, according to the regulator.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.