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Home › Dodgy Deals ›
Dodgy Deal
Kinder MorganUnited States

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2018-08-10 14:09:47
Thousands gather in Metro Vancouver, British Columbia, for Indigenous-led "Protect the Inlet" mass mobilization against the Kinder Morgan Trans Mountain Expansion pipeline. Photo: Zack Embree via Flickr CC BY-NC-SA 2.0

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2018-08-10 14:09:47
Why this profile?
About
Sectors Pipeline Transportation of Crude Oil, Pipeline Transportation of Natural Gas
Headquarters
Ownership
listed on NYSE

Kinder Morgan's share holder structure can be viewed here.

Subsidiaries
Website https://www.kindermorgan.com/

Kinder Morgan is the fourth largest energy company in North America. The company was founded in 1997 by Richard D. Kinder and William V. Morgan. It owns an interest in approximately 85,000 miles of pipelines of which 72,000 miles are used for the distribution of natural gas and the remainder for gasoline, crude oil and carbon dioxide. In addition, Kinder Morgan’s owns or controls 152 terminals where petroleum products, chemicals and other products are handled and stored. The company is known for the Trans Mountain Pipeline which it owned until it was bought by the Canadian government in May 2018. 

Impacts

Social and human rights impacts

Kinder Morgan has been cited for several workplace safety violations in the United States. Several explosions have occurred at Kinder Morgan’s pipelines and terminals which resulted in deaths and (severe) injuries of their employees. In 2004 a subsidiary of Kinder Morgan (KMGP Services Company Inc.) was fined $500,000 by the California Fire Marshal for a 'completely preventable' tragedy that killed five people and injured four.  In 2007 a Kinder Morgan subsidiary was found guilty for several felonies in connection to an explosion that killed five people. In 2012 a gas leak from a Kinder Morgan pipeline initiated an explosion at a plant owned by Pemex Exploración y producción, a subsidiary of Mexico’s state oil company Pemex. On July 13, 2016, a U.S. Federal Court ruled that Kinder Morgan should face the charges of gross negligence and negligence for the explosion.

The case of the Trans Mountain Expansion Project has shown that Kinder Morgan pushes through projects even when they violates Indigenous rights. When it owned and operated the project Kinder Morgan violated Indigenous rights including the right of Free, Prior and Informed Consent (FPIC), receiving opposition from many First Nations that would be directly impacted by the pipeline. The Indigenous Network on Economies and Trade has prepared a risk assessment on the expansion of the pipeline through the territory of the Secwepemc people, which have rejected the project. 


Environmental and climate impacts

Kinder Morgan's 85.000 mile of pipelines facilitate the extraction and production of natural gas (72,000 miles of its pipelines), gasoline and crude oil, which causes climate change. In particular, the construction of new fossil fuel pipelines allows the expansion of fossil fuel extraction, which is incompatible with the goals of the Paris Agreement.    

Kinder Morgan has a long record of oil spills, fires and explosions in it's terminals and pipelines. In its two decades of existence Kinder Morgan is responsible for over 1800 oil and chemical spill violations of which nearly 500 from pipelines. In 2005 210,000 litres of crude oil leaked at the Sumas Tank Farm (part of the Trans Mountain Pipeline) of which a part leaked into the nearby Kilgard Creek. Due to Kinder Morgans failing to properly mark the Trans Mountain Pipeline a backhoe broke the line resulting in an oil leak of 250,000 litres in July2007. In May 2009 another 200,000 litres of oil leaked out of Kinder Morgan's tanks at Burnaby Mountain facility. 

The U.S. Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA) has cited Kinder Morgan several times for failing to execute required inspection, safety testing, monitoring and maintenance of its pipelines and failing to notify authorities about spills when they occur. 

Besides its pipeline operations, Kinder Morgan has several coal export operations. The non-profit research and communication centre Sightline Institute, listed several violations regarding Kinder Morgan's coal terminals. The company has been fined for violations of the US Clean Air Act, Pollution Control Act, Ocean Dumping Act, federal Renewable Fuels Standard, safety violations, labour and workplace violations.

Financiers

In September 2014 Kinder Morgan entered into a credit facility which allowed the company to borrow up to USD 5 billion, with Royal Bank of Canada being the administrative agent. The twenty-five banks involved are listed below. The credit facility was cancelled after Kinder Morgen sold the Trans Mountain Pipeline to the Canadian government.
 

Institution type
Finance type
Year
Projects

Trans Mountain Pipeline Expansion project (TMEP)

Canada
Project
Active
Pipeline Transportation of Crude Oil

Trans Mountain Pipeline Expansion project (TMEP)

Canada
There are no active project profiles for Kinder Morgan now.
News
BankTrack
Partners
Blog
External
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan just told its shareholders how it persuaded the Trudeau government to pay billions for a pipeline no one else wanted to buy

2018-08-08 | Canada's National Observer
BankTrack news BankTrack blog Partner news Partner blog

Trudeau government to buy Kinder Morgan’s Trans Mountain

2018-06-04 | The Globe and Mail
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan pipeline: Canadian government to buy project for $4.5bn

2018-05-29 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan subsidiary found guilty of 6 felonies in Walnut Creek pipeline blast that killed 5

2018-05-15 | SF Gate
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan halts most work on disputed Canada pipeline expansion

2018-04-09 | Reuters
BankTrack news BankTrack blog Partner news Partner blog

Indigenous rights 'serious obstacle' to Kinder Morgan pipeline, report says

2017-10-16 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Indigenous, Green Groups Warn 28 Banks Against Funding Canada's ‘Dirty Oil’ Kinder Morgan Pipeline

2017-06-12 | teleSUR
BankTrack news BankTrack blog Partner news Partner blog

Environmental and indigenous groups demand banks avoid supporting Trans Mountain Expansion

A letter demands that CEOs of major banks should avoid supporting Kinder Morgan’s Trans Mountain expansion over human rights and climate change concerns
2017-06-09 | Toronto Star
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan Canada seeks domestic bond sales for Trans Mountain pipeline project

2017-06-06 | Financial Post
BankTrack news BankTrack blog Partner news Partner blog

Thousands protest Kinder Morgan pipeline expansion in Vancouver

2016-11-21 | CTV Vancouver
Resources
Documents
Videos
Links
2018-08-02 00:00:00

Four Proposed Tar Sands Oil Pipelines Pose A Threat To Water Resources

NGO document
2018-08-02 00:00:00 | Greenpeace USA
2018-07-30 00:00:00

Annual report 2017

Annual report
2018-07-30 00:00:00 | Kinder Morgan
2018-05-15 00:00:00

Kinder Morgan Statement on Climate Change

Company document
2018-05-15 00:00:00 | Kinder Morgan
2018-05-15 00:00:00

Brief on Legal Risks for Trans Mountain Expansion Project

NGO document
2018-05-15 00:00:00 | Tsleil Waututh Nation Sacred Trust Initiative and West-Coast Environmental Law Association
2018-05-15 00:00:00

The Facts About Kinder Morgan

NGO document
2018-05-15 00:00:00 | Sightline Institute
2017-12-08 00:00:00

How banks contribute to human rights violations

BankTrack Human Rights Briefing Paper
BankTrack publication
2017-12-08 00:00:00 | BankTrack
2017-10-16 00:00:00

Standing Rock of the North

The Kinder Morgan Trans Mountain Pipeline Expansion Secwepemc Risk Assessment
NGO document
2017-10-16 00:00:00 | Indigenous Network on Economies and Trade
2017-09-20 00:00:00

Problematic pipelines: Investor risk from bank financing of tar sands pipelines

NGO document
2017-09-20 00:00:00 | Greenpeace
2013-05-31 00:00:00

Assessing the risks of Kinder Morgan’s proposed new Trans Mountain pipeline

NGO document
2013-05-31 00:00:00 | Conversations for Responsible Economic Development
2016-08-31 00:00:00

Trans Mountain oil spill report 1961 - 2016

Company document
2016-08-31 00:00:00 | Trans Mountain

What is the Trans Mountain Oil Pipeline?

2017-06-13 11:19:03

Kinder Morgan Trans-Mountain Pipeline Expansion: An in depth look at issues and proposals

2017-06-13 11:06:39

Raven raises money to stop Kinder Morgan

RAVEN raises money to help First Nations taking legal action to protect treaty rights

Secwepemc Nation Website

Campaign page

DeFundPipelines campaign website

Extensive profile of the Trans Mountain Expansion Project

The vancouver Observer

Treaty Alliance against tar sands expansion

Campaign website

Stand.earth website

Campaign page

Burnaby Residents Opposed to Kinder Morgan Expansion (BROKE)

Updates

2018

2018-08-31 00:00:00 | Sale of Trans Mountain Pipeline (and TMEP) to Canadian government confirmed

Kinder Morgan Canada Limited (KML) announced that KML shareholders have voted to approve the sale of the Trans Mountain Pipeline system and the Trans Mountain Expansion Project (TMEP) to the Government of Canada at a special meeting of shareholders held on August 30, 2018 in Calgary, Alberta.

2018-08-30 00:00:00 | Trans Mountain pipeline halted after Canadian court overturns approval

A Canadian court has overturned Ottawa’s approval of the Trans Mountain Pipeline – throwing plans to nearly triple the flow of Alberta’s landlocked bitumen to the west coast into limbo – in a ruling hailed by environmentalists and Indigenous groups. In a unanimous decision, the federal court of appeal said the government failed to consider the concerns of some First Nations.

2018-07-03 00:00:00 | Kinder Morgan's $5,5 billion credit facility has been cancelled

Kinder Morgan's $5,5 billion credit facility has been cancelled after the Trans Mountain Pipeline was sold to the Canadian government. 

2018-05-29 00:00:00 | Canadian government to buy Trans Mountain Pipeline project for CAD 4.5bn

Canada’s federal government has announced it will buy a controversial pipeline from the Alberta oil sands to the Pacific coast to ensure it gets built. The country’s finance minister, Bill Morneau, said on Tuesday that Justin Trudeau’s government will spend CAD 4.5bn (USD 3.45bn) to purchase Kinder Morgan’s Trans Mountain pipeline.

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