Kinder Morgan has announced it is moving forward with the Trans Mountain Expansion Project.
The company says it will proceed with the 7 point 4-billion dollar project as long as it can secure financing for the project through its initial public offering.
The Kinder Morgan IPO is one of the largest ever in Canada.
The company has offered 102 million shares at a price of 17 dollars per share in an effort to raise one point 75 billion dollars.
It is set to close May 31st.
The Trans Mountain Expansion Project will result in an additional 590,000 barrels of oil a day.
Construction on the project is expected to begin in September with completion expected in December 2019.