CALGARY, B.C. – Kinder Morgan says it expects to proceed with its initial public offering for the Trans Mountain expansion today, despite the anti-pipeline Greens and NDP announcing an agreement to support a provincial NDP minority government.
A Kinder Morgan spokesperson for the Houston-based energy company said that the IPO will go ahead on the Toronto Stock Exchange.
Kinder Morgan’s confirmation came shortly after the leaders of the BC Greens and NDP said they came to a deal that could see the formation of a minority NDP government in the province.
Both parties have voiced their opposition to the Trans Mountain expansion, which would see the capacity of a pipeline running from Edmonton to Burnaby nearly triple its capacity to 890,000 barrels of oil per day.
The IPO is intended to raise $1.75 billion to help fund the $7.4-billion Trans Mountain expansion.