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Kinder Morgan says Trans Mountain moving forward after extensive review

(iStock)

CALGARY (NEWS 1130) – The president of Kinder Morgan Canada (TSX:KML) has defended the Trans Mountain project as having gone through rigorous assessments in his first comments since the BC NDP-Green party alliance resolved to stop the pipeline expansion.

Ian Anderson said in a statement Wednesday that the expansion has been reviewed, analyzed, discussed and considered thoroughly over many years, and now has approvals from the National Energy Board, the Government of Canada and a BC environmental certificate.

He said the company is starting to award significant contracts now that financing and a final investment decision are in place, and is moving ahead with the benefit agreements in place with aboriginal and local communities.

The company continues to move forward with planning for construction to start in September, said Anderson.

His comments come a day after the BC NDP and Green parties formalized their alliance and released an agreement that includes a commitment to employ every tool available to stop the Trans Mountain expansion.

Tuesday also marked the start of trading for Kinder Morgan Canada after its $1.75-billion IPO was at $17 a share, with the stock since down 5.66 per cent at $16.06 after two days of trading.