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B.C. pipeline will unlock new markets: Kinder Morgan

Kinder Morgan Canada says its plan for a $5-billion expansion to its Trans Mountain pipeline running from Edmonton to Vancouver is part of a larger strategy to find new markets for Canadian oil and gas resources.

"There's not doubt that by the time this project comes on stream by 2017 it will be one of the pieces to the solution for expanding markets for Canadian production," Ian Anderson, president of Kinder Morgan Canada tells BNN.

The pipeline already moves 300,000 barrels of oil a day. The expansion, which will see another pipeline built along the same route, would increase that capacity to 850,000 barrels per day.

But the move is already being met with fierce opposition, with a number of local politicians concerned about increased risk of an oil spill. Some mayors have said they plan to fight the project.

"Our task is to listen to those concerns…and [see] how we can transform the oil business in British Columbia in a safe and meaningful way," he says. "[We recognize] that we're not going to appease everybody, we're going to have opposition and hopefully we can have a meaningful dialogue about the facts around the safety of this transportation."

Anderson says the project will require around 24 months of review and planning, and another 18 to 24 months of public hearings. CTV Two CTV News CTV News Channel BNN - Business News Network CP24