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Home Canadian Press Kinder Morgan Canada revenue for pared back assets climb, distributes windfall

Kinder Morgan Canada revenue for pared back assets climb, distributes windfall

CALGARY, A.B. – Kinder Morgan Canada Ltd. says earnings from its significantly pared-back assets climbed 80 percent in the fourth quarter compared with a year earlier.

The results don’t include the Trans Mountain Pipeline, a package of storage terminals and the Puget Sound pipeline that the company sold to the Government of Canada for $4.5 billion last August.

The company’s remaining assets include Edmonton crude terminal infrastructure, its Cochin distillate pipeline and a Vancouver mineral export terminal.

Kinder Morgan Canada says earnings from the continued operations came in at $40.3 million for the fourth quarter, up from $22.3 million for the same quarter in 2017.

The company says it distributed $3.98 billion of the proceeds from the Trans Mountain sale to shareholders on January 3.

The fate of the Trans Mountain pipeline remains unclear as the federal government continues further consultations on the controversial project.

(THE CANADIAN PRESS)

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