That is how much the company will have to spend just getting the expansion project shovel-ready, according to Conference Board of Canada estimates.
Trans Mountain Mining News
But Asia rises as potential market for Trans Mountain crude say analysts.
Brace yourselves Canadians, the pipeline drama is about to heat up again.
The company will review the conditions and submit comments to the National Energy Board next week.
The National Energy Board said Kinder Morgan can conduct survey work at Burnaby Mountain, despite opposition from the city.
The merger is the largest in the energy sector in the last 15 years.
Company claims comment was part of a requirement for the application to the National Energy Board.
Despite objections from several groups, the Harper government declared over the weekend the humpback a "species of special concern" under the Species at Risk Act (SARA).
The expansion would help increase Canadian crude exports to Asian and US markets.
But the Calgary-based company acknowledges the path will be full of obstacles.
Kinder Morgan (NYSE: KMP) is going ahead with its planned $5 billion expansion of the Trans Mountain pipeline in Canada, which brings crude oil from the Alberta oil sands to Vancouver’s port.