Trans Mountain Says New Pacts Signed; Expansion Represents Capital Investment $5.4B
Trans Mountain Pipeline ULC (Trans Mountain), operated by Kinder Morgan Canada Inc. and owned by Kinder Morgan Energy Partners, L.P. (NYSE: KMP), today announced an update to the scope of its proposed expansion of the Trans Mountain Pipeline. As a result of a recently completed supplemental open season process, new long-term contracts have been signed, bringing the total volume of committed shippers to approximately 700,000 barrels per day (bpd). These additional commitments will result in an increase in the proposed expansion capacity from 750,000 bpd to 890,000 bpd. The expansion represents a capital investment of $5.4 billion and will complete the twinning of the existing pipeline from Strathcona County, Alberta, to Burnaby, British Columbia.
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