Newspaper article The Canadian Press

Kinder Morgan Canada Earns $13.7 Million in Q2 in 45 per Cent Drop

Newspaper article The Canadian Press

Kinder Morgan Canada Earns $13.7 Million in Q2 in 45 per Cent Drop

Article excerpt

Kinder Morgan Canada earns $13.7M in Q2

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CALGARY - Kinder Morgan says the $4.5 billion deal to sell Trans Mountain pipeline assets to the federal government is progressing well.

"We are laser-focused right now on closing this transaction, and that process is going well," said Kinder Morgan CEO Steven Kean on an earnings call Wednesday.

The company reached a deal with the Trudeau government in late May to sell the existing Trans Mountain pipeline running from the Edmonton to the Vancouver area, as well as the controversial expansion project that will nearly triple the line's capacity.

Kinder Morgan said it expects the deal to close late in the third quarter or early in the fourth quarter this year, subject to approval by shareholders and regulators, while the federal government said in announcing the deal that it expects it to close in August. …

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