News Release, Kinder Morgan Energy Partners, December 16 2013
CALGARY--(BUSINESS WIRE)--Dec. 16, 2013-- 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.
For 60 years, the 1,150-km Trans Mountain pipeline system has been safely and efficiently providing the only West Coast pipeline access for Canadian oil products, including about 90 percent of the gasoline supplied to the interior and south coast of British Columbia. For more information, please visit www.transmountain.com.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline transportation and energy storage company and one of the largest publicly traded pipeline limited partnerships in America. It owns an interest in or operates approximately 54,000 miles of pipelines and 180 terminals. The general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Kinder Morgan is the largest midstream and the fourth largest energy company in North America with a combined enterprise value of approximately $105 billion. It owns an interest in or operates approximately 80,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interests of KMP and El Paso Pipeline Partners, L.P. (NYSE: EPB), along with limited partner interests in KMP, Kinder Morgan Management, LLC (NYSE: KMR) and EPB. For more information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Kinder Morgan believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include those enumerated in Kinder Morgan’s reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, Kinder Morgan undertakes no obligation to update or review any forward-looking statement because of new information, future events or other factors. Because of these uncertainties, readers should not place undue reliance on these forward-looking statements.
Source: Kinder Morgan Energy Partners, L.P.
Trans Mountain Pipeline Expansion Project
Ali Hounsell, (604) 908-9734 or (855) 908-9734