Canada Ready to Compensate Kinder Morgan for Pipeline Losses

Morneau says Canada prepared to take on liability of Trans Mountain pipeline

"I'm doing what I said I would do and defending the interests of British Columbians", he said in Vancouver.

Mike Hudema of Greenpeace urged the government to reverse its approval of TMX, highlighting legal challenges also from indigenous tribes, environmental activists and municipal governments bent on stopping the project. I'm doing what I said I would do.

"I'm not causing any risks". "They declined to join us".

Horgan later issued a statement replying to Morneau: "The federal finance minister is trying to use our government as an excuse, as the federal government puts taxpayer money on the line to backstop risks to private investors, while completely ignoring the risks to B.C".

In the past three years, five major pipeline projects that Canada was banking on have been scrapped or delayed. "But opposition to a federal bailout is strong". Fpr Partners Llc who had been investing in Kinder Morgan Inc Del for a number of months, seems to be bullish on the $36.14 billion market cap company.

The Finance Minister spoke as Kinder Morgan Canada's stakeholders gathered in Calgary for their annual meeting. "It's clear this pipeline should not be built".

Alberta Premier Rachel Notley speaks to reporters at a news conference in Edmonton on Wednesday.

"I think that is rhetoric and hyperbole on his part".

She would not comment on how Ottawa is going about getting the project rolling. "I don't have anything to report on in terms of other discussions".

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Justin Trudeau's government is prepared to reimburse Kinder Morgan Canada for any financial losses incurred by "politically motivated" delays.

The $7.4-billion Trans Mountain pipeline has been at the centre of a row between Alberta and British Columbia.

In other words, it was hinting that Ottawa's insurance package wasn't enough, and instead it wanted the federal government to buy the pipeline, or a big chunk of it. "We are still considering all options, both financial and legislative". Presumably, the Trudeau government would be loath to nationalize it and force the sale to another pipeline company willing to go ahead with the expansion.

The Preserving Canada's Economic Prosperity Act gives Alberta's energy minister the power to restrict shipments of oil and gas leaving that province. The stock decreased 0.36% or $0.06 during the last trading session, reaching $16.38. His minority government exists at the pleasure of the Green party, and on condition of his continued opposition to the project.

Mr. Morneau's Wednesday morning news conference was Ottawa's way of saying it isn't willing to pay Kinder Morgan's price.

"We remain steadfast in our previously stated principles: clarity on the path forward, particularly with respect to the ability to construct through British Columbia, and ensuring adequate protection of our KML shareholders", Kean said.

"While discussions are ongoing, we are not yet in alignment and will not negotiate in public", he said.

Last month, Kinder Morgan halted all non-essential spending on the Trans Mountain project and set a May 31 deadline for the federal government to provide assurances that the pipeline would be built.

"Those risks include legal challenges from First Nations, environmental groups and municipal governments, potential legislation in the US, along with growing on-the-ground opposition from land and water protectors willing to face arrest to stop this project - from Vancouver to Seattle to Quebec, and beyond".

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