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UPDATE 2-Trans Mountain solicits pipeline nominations for June - traders

Published 2016-06-01, 06:21 p/m
© Reuters. UPDATE 2-Trans Mountain solicits pipeline nominations for June - traders
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NEW YORK, June 1 (Reuters) - Kinder Morgan Inc (NYSE:KMI) KMI.N
solicited nominations for space this week on its Trans Mountain
pipeline system mainline for June, two trading sources said on
Wednesday, as supply shortages from Canada's oil sands appeared
to be reaching the West Coast.
The pipeline, which moves crude oil and refined products
from Edmonton, Alberta, to the West Coast, is typically
oversubscribed, so the available capacity was seen as unusual.
Sources said Trans Mountain received reduced nomination this
month, after a raging wildfire in Alberta shuttered more than a
million barrels per day of crude production.
"In April/May demand for our pipeline continued to be strong
and was oversubscribed, however we did see a decrease in refined
product. This is due to the shortage of refined products in
Western Canada as a result of the Fort McMurray forest fires,"
said Lizette Parsons Bell, a spokeswoman for Trans Mountain.
The company added that decline had been offset by an
increase in other products being shipped on the line, and said
it expected the system to be full or nearly full during June.
The call for space by Kinder Morgan appeared to be one of
the first indications of a more national impact from the
production shutting in Canada's oil heartland.
While some facilities have resumed operations, analysts have
pointed out that Midwest refiners may feel the effects of the
Canadian outage longer as they move from maintenance into summer
demand season.

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