Open season for Trans Mountain expansion concludes

Source: Kinder Morgan

he company is pleased to have all available long-term firm service capacity now contracted on the oil pipeline with a diverse group of 13 customers.

Trans Mountain has successfully concluded a supplemental open season for 22,000 barrels per day of capacity on its planned expanded pipeline, subject only to final shipper board approval for that volume. The company is pleased to have all available long-term firm service capacity now contracted on the oil pipeline with a diverse group of 13 customers.

Collectively the firm shippers have made 15- and 20-year commitments of 707,500 barrels per day or roughly 80 percent of the capacity on the expanded pipeline, with the other 20 percent reserved for spot volumes as required by the National Energy Board.

“We’re very pleased with the swift and positive conclusion of this open season, demonstrating the continued strong market support for our project and the much-needed access to new markets it brings to Canadian producers and the secure supply of Canadian crude to refineries throughout the Pacific basin,” said Ian Anderson, president of Kinder Morgan Canada.

Next steps for the project include arranging acceptable financing and a final investment decision by Kinder Morgan. Construction is set to begin in fall 2017 and the project is expecting an in-service date of late 2019.

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