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Work on Kinder Morgan Inc.’s KMI Trans Mountain pipeline expansion project may be further delayed. A newly elected Liberal member of the Canadian Parliament proposed the imposition of a tough new review process for the expansion project, which might result in it being deferred again.
Per the incoming Burnaby MP, no decision will be taken until January, as Kinder Morgan will have to go through the new revised process.
Uncertainty still prevails with respect to the commencement of the new legislative review or what the legal consequences would be if the new government reverses the current approvals or changes the rules for existing reviews.
The $5.4 billion expansion project was filed with the NEB on Dec 16, 2013. Post filing of the application a regulatory review of the proposed expansion facilities was initiated.
Construction of the Trans Mountain expansion project was expected to start in 2016, subject to the success of the regulatory application process. However, with the newly elected Liberal member proposing a tougher review process for the project, the expanded pipeline is not likely to become operational prior to late 2018.
The Trans Mountain pipeline system has been the only one providing West Coast pipeline access for Canadian oil products over the last 60 years. It has been continuously upgraded and adapted to meet the growing needs of customers.
The Trans Mountain was last expanded in 2008 as part of the Anchor Loop Project. About 158 kilometer of pipeline was joined between Hinton, Alberta and Hargreaves, British Columbia. The open season for the pipeline – from fall 2011 to fall 2012 – received strong binding support from commercial customers. Consequently, the proposal for further expansion of the pipeline was made. In Jan 2013, 13 committed customers inked new long-term contracts to facilitate the update and increase of the scope of the proposed project.
Currently, Kinder Morgan carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are Natural Gas Services Group Inc. NGS, Matrix Service Co. MTRX and ReneSola Ltd SOL. Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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Kinder Morgan
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CODE : KMP |
ISIN : US4945501066 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Kinder Morgan is a producing company based in United states of america. Kinder Morgan is listed in Germany and in United States of America. Its market capitalisation is US$ 46.0 billions as of today (€ 36.7 billions). Its stock quote reached its lowest recent point on June 25, 1999 at US$ 10.00, and its highest recent level on November 26, 2014 at US$ 102.03. Kinder Morgan has 450 600 000 shares outstanding. |