HOUSTON--(BUSINESS WIRE)--Canada’s National Energy Board (NEB) has concluded that the Trans
Mountain Expansion Project is in the public interest and recommended the
Federal Governor in Council approve the proposed expansion. The NEB’s
recommendation will allow the Project to proceed with 157 conditions if
the Governor in Council approves the project. The Federal Government
will make the final decision on the Project in December 2016.
“Trans Mountain is pleased with the NEB’s recommendation,” said Ian
Anderson, president of Kinder Morgan Canada. “The decision is the
culmination of a lengthy and thorough regulatory review process and
considers the many thousands of hours of environmental and technical
studies, scientific evidence and community engagement that has been part
of this comprehensive assessment. After an initial review of the report,
Trans Mountain believes the 157 Project-specific conditions, many in
response to input from Intervenors, are rigorous and appear to be
achievable.” Trans Mountain continues to analyze the NEB’s conditions
for implications to community commitments, costs and Project timeline,
but is still expecting the in-service date to be December 2019.
“This report is a reflection of our evidence along with the valuable
input from Intervenors and our conversations with communities,
Aboriginals and individuals,” added Anderson. “Now, more than ever our
Project makes sense for Canada. We have demonstrated the demand for
much-needed access to global markets and how building this pipeline will
bring both dollars and many thousands of jobs for communities in British
Columbia and Alberta at a time when our economy needs it most.”
Trans Mountain has conducted a robust public engagement program since
the announcement of the proposed Project in 2012 that has included
consultation with thousands of individuals to date. Engagement will
continue throughout the review processes, construction and operation of
the expansion. Through some 159 open houses and workshops and hundreds
of meetings along the pipeline and marine corridors, as well as more
than 24,000 points of engagement with Aboriginal communities, Trans
Mountain improved and optimized its planning and mitigation measures to
address concerns.
To date, close to 40 Aboriginal groups located along the Project and
marine corridor in Alberta and British Columbia have provided written
letters of support for the Project. The Project team is building
long-term relationships with Aboriginal communities along the proposed
pipeline corridor to create new opportunities and shared prosperity.
About Trans Mountain Expansion Project
In spring 2012, Kinder Morgan Canada announced it will move forward with
its proposed plans to expand the existing Trans Mountain Pipeline system
– between Edmonton, Alberta, and Burnaby, British Columbia – following
strong commitments received from its customers. The Conference Board of
Canada found the Project is expected to generate $46.7 billion in
government revenues and 802,000 person years of employment, the
equivalent of 40,000 jobs each year, over more than 20 years. For almost
60 years, the 1,150-km Trans Mountain pipeline system has been safely
and efficiently providing the only West Coast access for Canadian oil
products, including about 90 per cent of the gasoline supplied to the
Interior and South Coast of British Columbia. For more information,
please visit www.transmountain.com.
Kinder Morgan, Inc. (NYSE: KMI) is the largest energy infrastructure
company in North America. It owns an interest in or operates
approximately 84,000 miles of pipelines and approximately 180 terminals.
The company’s pipelines transport natural gas, gasoline, crude oil, CO2
and other products, and its terminals store petroleum products and
chemicals, and handle bulk materials like coal and petroleum coke. For
more information please visit www.kindermorgan.com.
Important Information Relating to
Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally
the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature. Forward-looking
statements are subject to risks and uncertainties and are based on the
beliefs and assumptions of management, based on information currently
available to them. Although Kinder Morgan believes that these
forward-looking statements are based on reasonable assumptions, it can
give no assurance that any such forward-looking statements will
materialize. Important factors that could cause actual results to
differ materially from those expressed in or implied from these
forward-looking statements include the risks and uncertainties described
in Kinder Morgan’s reports filed with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the year-ended
December 31, 2015 (under the headings “Risk Factors” and “Information
Regarding Forward-Looking Statements” and elsewhere) and its subsequent
reports, which are available through the SEC’s EDGAR system at www.sec.gov
and on our website at ir.kindermorgan.com. Forward-looking statements
speak only as of the date they were made, and except to the extent
required by law, Kinder Morgan undertakes no obligation to update any
forward-looking statement because of new information, future events or
other factors. Because of these risks and uncertainties, readers
should not place undue reliance on these forward-looking statements.
