Kinder Morgan Pours $1.3B Into Pipeline As Shippers Sign On

Law360, New York (January 11, 2013, 2:01 PM EST) -- U.S. pipeline giant Kinder Morgan Energy Partners LP will pump an extra $1.3 billion into a pipeline expansion project in Canada, reversing previous plans to scale back the project after more shippers signed long-term contracts, the company said Thursday.

With the additional shipper commitments made in an open-season round, the Trans Mountain pipeline will boost its capacity from 750,000 barrels of oil per day to 890,000 barrels to answer demand, Houston-headquartered Kinder Morgan said. The added interest also ramps up the project’s cost to $5.5 billion....
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