Kinder Morgan Inc (KMI)

[eFinanceMarkets]

$KMI Kinder Morgan OK to build B.C. marine terminal, part of Trans Mountain project

Kinder Morgan (NYSE:KMI) is cleared by Canada's National Energy Board to begin construction on the Burnaby marine terminal - "but nowhere else as of yet" - as part of its Trans Mountain pipeline expansion project.

The approval came yesterday as the NEB revealed the results of a pre-construction audit, which required KMI to submit a corrective action plan to address several issues including the company's quality assurance program, hazard analysis, organizational structure and its definition of inspection and monitoring requirements.

The NEB last year approved the Trans Mountain project subject to 157 conditions, and Natural Resources Minister Jim Carr has defended the approval of the pipeline in recent weeks amid strong opposition in British Columbia.