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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Kinder Morgan Canada Ltd    KML   CA4945492078

KINDER MORGAN CANADA LTD (KML)
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Kinder Morgan Canada : Canadian government to brief media on oil pipeline aid, no decision yet

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05/16/2018 | 05:49am CEST
FILE PHOTO: Canada's Finance Minister Bill Morneau walks through his office to hold a news conference on the state of the Kinder Morgan pipeline expansion

OTTAWA (Reuters) - Canadian Finance Minister Bill Morneau will brief reporters on Wednesday about talks with Kinder Morgan Canada on possible aid for an oil pipeline project but will not be announcing a final decision, a spokesman said on Tuesday.

Ottawa says it is prepared to offer financial support to ensure the company proceeds with a planned expansion of its Trans Mountain line from oil sands projects in the province of Alberta to British Columbia on the Pacific coast.

Kinder Morgan halted work last month, citing resistance from the British Columbia government, and said it would scrap the project if it did not receive the certainty it needs by May 31.

Morneau is due to speak at 9 a.m. EDT on Wednesday, the same day Kinder Morgan Canada holds its annual general meeting in Calgary, Alberta.

"We are going to update on ongoing discussions. It's not the final deal, it's not anything like that," Morneau's spokesman Dan Lauzon said by phone, saying the discussions had been difficult at some points.

Morneau, he added, would outline what solutions the federal government could explore. Sources have previously said Ottawa is examining options such as loan guarantees, a bailout, or taking a stake in the C$7.4 billion ($5.8 billion) project.

The development is supported by Canadian oil producers, who receive lower prices for their crude oil because of the lack of transportation capacity to take it to end-users.

However, the pipeline is opposed by British Columbia as well as some aboriginal groups and environmental activists, who cite the risk of spills.

(Reporting by David Ljunggren; Editing by Christian Schmollinger)

Stocks mentioned in the article
ChangeLast1st jan.
KINDER MORGAN CANADA LTD -0.24% 16.8 Delayed Quote.-1.23%
KINDER MORGAN INC -0.06% 17.88 Delayed Quote.-1.05%
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Financials (CAD)
Sales 2018 612 M
EBIT 2018 230 M
Net income 2018 83,3 M
Debt 2018 387 M
Yield 2018 3,90%
P/E ratio 2018 26,73
P/E ratio 2019 49,53
EV / Sales 2018 10,2x
EV / Sales 2019 12,2x
Capitalization 5 871 M
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Mean consensus HOLD
Number of Analysts 10
Average target price 17,2  CAD
Spread / Average Target 2,3%
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Managers
NameTitle
Steven J. Kean Non-Independent Chairman & Chief Executive Officer
John W. Schlosser President
Hugh Harden Vice President-Operations
Dax A. Sanders Chief Financial Officer & Non-Independent Director
Kimberly Allen Dang Non-Independent Director
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