Trade Insider
by InsideTrade Staff on April 13, 2017

Kinder Morgan Energy Partners LP (NYSE:KMP) Resumes Survey For Expansion

Kinder Morgan Energy Partners LP (NYSE:KMP) stated that the crews have resumed the survey work that is related to its project of Trans Mountain pipeline expansion in the Vancouver suburb of Burnaby, despite the Canadian police arresting more protesters at two work sites.

Kinder Morgan‘s Expansion Plans:

Kinder Morgan Energy Partners LP (NYSE:KMP) was able to move all its equipment onto Burnaby Mountain overnight and it stated that the crews would be working 24 hours a day for the10 to 12 days consecutively for the completion of drilling work that is required by regulators. Kinder Morgan Energy Partners LP (NYSE:KMP) hopes that the capacity of the current 300,000 barrel-per-day pipeline would be tripled. It plans on boring two holes deep into the mountain to check if it has the ability to run the expanded line under the conservation site. The site is a popular for hiking and picnic for the locals.

The Protest Over Expansion:

Many area residents, environmentalists and aboriginal groups opposed to the expansion that the company intends on doing, which would allow Kinder Morgan Energy Partners LP (NYSE:KMP) to ship more tar sands crude from Alberta to Vancouver and on to Asian markets. A group of protesters had been occupying the more remote of the two work sites for weeks. Canadian police started to enforce a court order for their removal of these protestors and arrested 26 people.Eight more people were arrested the next day according to a statement by the the Royal Canadian Mounted Police (RCMP). Three aboriginal protesters remained inside the injunction zone. The police is in talks over moving them to a legal protest area nearby.

Kinder Morgan Energy Partners LP (NYSE:KMP) stated that in the meanwhile, it is setting up fences and lights and doing all the necessary preparation for starting drilling work.

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