On July 19, Kinder Morgan Canada (TSE:$KML) released its first quarterly results since going public in May – and it looks like the Calgary-based company is on track to commence construction of the Trans Mountain expansion project in September.
In a news release, Kinder Morgan president Ian Anderson said that the company is making a lot of progress on construction agreements and he is looking forward to continuing to work with the provincial government.
It’s worth noting that these financial results were released a day after NDP Premier John Horgan was sworn in at the B.C. legislature. Even though the Trans Mountain expansion already has all of its major – and necessary – regulatory permits in place, many speculate that the NDP provincial government could interrupt the project by postponing minor permits such as highway access.
The Trans Mountain pipeline would almost triple the capacity of the 1,150-kilometre line running from Edmonton, Alberta to Burnaby, British Columbia, reaching up to 890,000 barrels of oil per day.
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