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Trans Mountain pipeline risks are manageable, oil companies tell NEB

Feb. 03, 2016 5:58 PM ETKinder Morgan, Inc. (KMI) StockKMI, BP, SU, CNQ, IM, CVEBy: Carl Surran, SA News Editor21 Comments
  • Kinder Morgan's (NYSE:KMI) Trans Mountain pipeline expansion can be built in a way that satisfies environmental concerns, a group of Canada’s largest oil companies argued today before the National Energy Board.
  • The lawyer acting for Canadian Natural Resources (NYSE:CNQ), Suncor Energy (NYSE:SU), Imperial Oil (NYSE:IM), Cenovus Energy (NYSE:CVE) and others, said the NEB panel should weigh the benefits of the pipeline against both the risks of a potential spill as well as the risk-mitigation measures KMI has planned for the line.
  • BP Canada's legal counsel added that demand on the existing pipeline between Alberta and Burnaby, B.C., far outstrips supply capacity on “the only pipeline system transporting crude oil to the west coast.”
  • The Trans Mountain expansion would add 590K bbl/day of pipeline capacity.

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