CALGARY, Alberta, Aug. 23 /CNW/ -- Kinder Morgan Energy Partners, L.P.
(NYSE: KMP) today announced that Kinder Morgan Canada has begun construction
on the approximately C$443 million Anchor Loop project, the second phase of
the Trans Mountain pipeline system expansion that will increase capacity on
Trans Mountain from about 260,000 to 300,000 barrels per day (bpd). The
project is expected to be completed in November 2008.
Trans Mountain transports crude oil and refined products from Edmonton,
Alberta, to marketing terminals and refineries in British Columbia and
Washington state. Earlier this year Kinder Morgan Canada commissioned 11 new
pump stations which boosted capacity on Trans Mountain from 225,000 to
approximately 260,000 bpd. The pipeline has been operating at capacity since
"The Anchor Loop project will provide our customers with much needed
additional pipeline capacity, and it is an important component of our overall
expansion plan to provide greater access for our customers to West Coast and
Far East markets," said Kinder Morgan Canada President Ian Anderson. The
project entails looping 158 kilometers of the Trans Mountain Pipeline through
rugged terrain in Jasper National Park and Mount Robson Provincial Park.
Anderson noted that tremendous care in the planning for this project has
taken place with regulators, environmental organizations and Aboriginal
communities over the past three years. "We are extremely conscious of the
Aboriginal needs and the environment, and we are committed to building the
project safely and with the utmost respect for and involvement of all
Kinder Morgan Canada also continues to have discussions with customers
for the next expansion phase (TMX-2) of the Trans Mountain pipeline system.
For more information on Kinder Morgan Canada's Trans Mountain pipeline system
expansion, please check http://www.tmxproject.com.
Kinder Morgan Energy Partners, L.P. is a leading pipeline transportation
and energy storage company in North America. KMP owns an interest in or
operates approximately 26,000 miles of pipelines and 150 terminals. Its
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. KMP is also the leading provider of
CO2 for enhanced oil recovery projects in North America. One of the largest
publicly traded pipeline limited partnerships in America, KMP has an
enterprise value of approximately $20 billion. The general partner of KMP is
owned by Knight Inc. (formerly known as Kinder Morgan, Inc.), a private
This news release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Although Kinder Morgan believes that its expectations
are based on reasonable assumptions, it can give no assurance that such
assumptions will materialize. Important factors that could cause actual
results to differ materially from those in the forward-looking statements
herein are enumerated in Kinder Morgan's Form 10-K and 10-Q as filed with the
Securities and Exchange Commission.
For further information:
For further information: media relations, Philippe Reicher,
+1-403-514-6450, or investor relations, Mindy Mills, +1-713-369-9449, both for
Kinder Morgan Energy Partners, L.P. Web Site: http://www.kindermorgan.com