Trans Mountain Expansion Project Pursuing a “Primarily Permitting” Spend Strategy

Kinder Morgan Canada Limited (TSX: KML) today announced its preliminary 2018 financial projections.

"We expect 2018 to be a good year for Kinder Morgan Canada Limited businesses," said KML Chairman and CEO Steve Kean.  "KML’s extensive network of strategic assets includes the existing Trans Mountain Pipeline system, the only Canadian crude oil and refined products export pipeline with North American West Coast tidewater access.  Other KML assets include one of the largest integrated networks of crude tank storage and rail terminals in Western Canada, the largest merchant terminal storage facility in the Edmonton region, the largest origination crude by rail loading facility in North America, and the largest mineral concentrate export/import facility on the west coast of North America.  Those assets will continue to generate substantial value for KML shareholders in 2018,” continued Kean.

"With respect to the Trans Mountain Expansion Project (TMEP), we made some progress during 2017 on permitting, regulatory condition satisfaction and land access," said Kean.  “Unfortunately, the scope and pace of the permits and approvals received does not allow for significant additional construction to begin at this time.”

"KML must have a clear line of sight on the timely conclusion of the permitting and approvals processes before we will commit to full construction spending," said KML President Ian Anderson.  "To that end, we have filed motions with the National Energy Board (NEB) to resolve existing delays as they relate to the City of Burnaby, and to establish an open NEB process that will backstop provincial and municipal processes in a fair, transparent and expedited fashion.” 

Read the full news release here.