The CEO of Kinder Morgan Canada Ltd. says he “appreciates” an announcement by Finance Minister Bill Morneau that the government will compensate investors in the proposed Trans Mountain pipeline expansion if “unnecessary delays” cause costs to rise.
Morneau says the government is willing to “provide indemnity” to any investors, be they the project’s original architects or otherwise, to ensure the controversial Alberta-B.C. project is able to proceed.
“We acknowledge the comments by Minister Morneau this morning and appreciate his acknowledgement of the uncertainty created by the B.C. Government’s stated intentions to ‘do whatever it takes to stop the Trans Mountain Expansion Project’ and the ‘exceptional political risk’ this federally and provincially-approved project continues to face. We appreciate his recognition that a private company ‘cannot resolve differences between governments,'” CEO Steven Kean said in a written statement.
“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.”
Canadian Press – May 16, 2018.