BUZZ-Kinder Morgan Inc: Canada regulator backs pipeline plan

Fri May 20, 2016 7:41am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Pipeline company's shares up 1.4 pct at $17.50 premarket

** Canada's energy regulator recommended approval on Thursday for Kinder Morgan's plan to expand its Trans Mountain oil pipeline, subject to 157 conditions

** Approval clears major hurdle for proposed trebling of capacity to serve lucrative Asian markets

** C$6.8 bln ($5.19 bln) project will boost Kinder Morgan's capacity from 300,000 barrels per day to 890,000 bpd

** If pipeline is approved by cabinet, construction could start in 2017, with first shipments in 2019, company says

** Up to Thursday's close, stock had fallen nearly 60 pct in past 12 months