Kinder Morgan Energy Partners LP (KMP:US) asked Canadian regulators for permission to install the piping, pump stations and valves necessary to almost triple capacity on the Trans Mountain oil pipeline.
The company filed an application with the National Energy Board today seeking approval to construct a new line that would run parallel to the existing Trans Mountain. The additional line, between Edmonton, Alberta, and Burnaby, British Columbia, will boost capacity to 890,000 barrels a day from 300,000.
“We expect this is likely one of the largest applications that the NEB has ever received,” Ian Anderson, Kinder Morgan Canada’s president, said on a conference call with reporters. “There will be a long period with review and study leading up to a hearing, we hope, later this year.”
The planned expansion is one of several projects proposed by companies including Enbridge Inc. (ENB) and TransCanada Corp. (TRP) to help Canada, the world’s sixth-largest crude producer, to deliver surging supplies to markets abroad.
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