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article imageOttawa will cover losses if Trans Mountain pipeline delayed

By Karen Graham     May 16, 2018 in Politics
Ottawa - The Canadian government is prepared to indemnify Kinder Morgan Canada Ltd’s proposed Trans Mountain pipeline expansion against unnecessary delays that are politically motivated, Finance Minister Bill Morneau said on Wednesday.
At a press conference in Ottawa on Wednesday, Finance Minister Bill Morneau said the federal government has a “clear role” to play in stopping the “politically motivated investment risk” to the Kinder Morgan pipeline expansion caused by delays brought on by B.C. premier John Horgan.
Morneau added that should Kinder Morgan end up pulling out of the pipeline deal, he believes “other private sector actors that would be willing to move forward” with the project.
The federal government is so intent on getting the pipeline built, it is even agreeable to “provide indemnity” to those private sector investors.
Morneau again blamed Kinder Morgan's reservations on moving forward with the pipeline on Horgan, saying the delays were caused by “Horgan’s deliberate attempts to derail the project. We believe that what Premier Horgan has done is unconstitutional,” he said.
The federal government, which Morneau said "believes in the project," has laid out three "guiding principles" as the ongoing talks with Kinder Morgan take place. Specifically, they include:
Prepared to indemnify the project from any financial loss;
Is willing to offer this financial security to any company who wants to build the pipeline, should Kinder Morgan back out;
and, the financial backing must be fair, and beneficial to Canadians.
More about trans mountain pipeline, kindermorgan pipeline, Monreau, Federal Government, cover losses
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