Ottawa pledges to meet Kinder Morgan’s deadline for Trans Mountain
Ottawa, Apr 12 (IBNS): Canada's finance minister Bill Morneau said yesterday that Kinder Morgan’s May 31 deadline was “a reasonable one to work with” to make sure construction goes ahead this summer, media reports said.
“Our approach is to engage with provinces to understand those risks; engage with the project proponent to understand what the financial hurdles are from their standpoint, and get to an answer that ensures the project moves forward in a very short timeline, meaning we can get on with something we know is going to be very positive for our economy,” the finance minister said.
Yesterday, Morneau had a meeting with Alberta Premier Rachel Notley and had committed to consider financial, legal and regulatory measures in building the Trans Mountain pipeline.
Morneau did not provide any other details about the meeting.
Notley had said that in order to ensure the building of Kinder Morgan's Trans Mountain Pipeline, her province on Tuesday had offered to purchase the pipeline project outright.
The British Columbia government, on the other hand, was of the firm belief that Kinder Morgan conditions had some legal challenges and did not offer protections for shareholders.
The B.C. government was committed to a court challenge to restrict the flow of oil-sands bitumen through the province.
Prime Minister Justin Trudeau had tweeted earlier, "I wouldn’t approve major pipeline projects if I wasn’t confident they could be done safely. And they can be done safely because we’ve made a massive investment in protecting our oceans and coastlines – in BC and across the country."
(Reporting by Asha Bajaj)
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