With hopes that a deal where the company will consolidate all of its publicly traded units under one location will be done by the holiday of Thanksgiving in the U.S. is what pipeline titan Kinder Morgan Energy Partners LP (KMP.N) stated on Wednesday.
The company stated that Kinder Morgan still needs a statement of registration made effective by the Securities and Exchange Commission (SEC) despite being given other regulatory approvals that are essential.
It was after the company declared in August that it was pushing through with the deal as an answer to the worries of investors regarding its complex financial structure and growth prospects that the timeline arrived. Kinder Morgan will remove its master limited partnership structure with the implementation of the $70 billion deal.
It is further added by the company that part of a system that transports crude oil and refined products out of Alberta to terminals and refineries on the West Coast of Canada, the Trans Mountain pipeline ought to up and running by the last leg of the third quarter of 2018. A dispute with the city of Bumaby in British Columbia is what’s causing the delay.
Nov. 27, 2014 will be the U.S. Thanksgiving holiday.