“Upon the completion of the IPO, we will have secured satisfactory financing for the Trans Mountain Expansion Project. We are excited to be moving forward on this tremendous project which is expected to benefit KMI and KML as well as our Trans Mountain shippers and Canada,” said Steve Kean, Kinder Morgan chief executive officer.
The Trans Mountain Expansion Project is a C$7.4 billion project which upon completion will provide western Canadian oil producers with an additional approximately 590,000 barrels per day (resulting in total pipeline capacity of 890,000 barrels per day) of shipping capacity and tidewater access to the western United States and global markets.
Construction on the oil pipeline project is expected to begin in September 2017 with completion expected in December 2019.
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