Kinder Morgan caught in middle of Canadian political fight
Kinder Morgan’s plans to expand a pipeline running from Edmonton to Vancouver are being held up by a dispute between Canadian politicians.
Kinder has put on hold its plans to triple the capacity of the Trans Mountain Express to 890 thousand barrels a day, after Alberta threatened to disrupt the flow of oil from its tar sands fields unless British Columbia signs off on the expansion, the research firm Morningstar said Monday.
“The dispute concerns Alberta’s belief that British Columbia is dragging its feet over approval,”Sandy Fielden, director of oil and products research, wrote in a note to investors. “Kinder Morgan has suspended work on the project – needed to relieve crude takeaway congestion out of Alberta – until politicians agree to a path forward…” (Read the full story)