Kinder Morgan Issues Update for Trans Mountain Pipeline; Shares Up 1%
Kinder Morgan Energy Partners LP's ( KMP ) Trans Mountain Pipeline ULC, operated by Kinder Morgan Canada Inc. today provided an update to the scope of its proposed expansion of the Trans Mountain Pipeline. 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.
KMP is up 1.2% at $87.30, trading in a 52-week range of $74.15 - $90.60. Shares have increased 6% in the last 12 months.
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