The Canadian National Energy Board (NEB) has endorsed Kinder Morgan Canada's plans to extend the Westridge Marine Terminal in Burnaby (British Columbia, Canada). Kinder Morgan will expand the terminal dock in order to load three tankers at once, thus increasing the number of deliveries. The terminal is connected to the Trans Mountain pipeline and this announcement is part of the C$7.4bn ($5.5bn) pipeline expansion project.
The pipeline already transport approximately 300,000 bbl/d from the oil sands in Alberta to Vancouver, British Columbia and Washington State. Its expansion is expected to cost at least C$7.4bn (US$5.5bn) and is expected to increase the existing crude oil transportation capacity up to 890,000 bbl/d by twinning the existing light crude oil and refined products pipeline. Kinder Morgan expects to begin construction in September 2017, with a completion scheduled for December 2019.
The extension project, which was approved by the Canadian government in November 2016 despite the opposition of environmental groups and residents, will stretch from Edmonton, Alberta, to Burnaby, British Columbia. In June 2017, Kinder Morgan raised C$5.5bn (US$4.16bn) through three credit facilities in order to finance the pipeline expansion. The three credit facilities are namely: a C$4bn (US$3bn) construction credit to support the construction, development and completion of the project, a C$1bn (US$760m) to cover additional costs and a C$500m (US$378m) for corporate purposes.