Kinder Morgan is suspending “non-essential activities” and related spending for the Trans Mountain pipeline project, citing ongoing opposition from the British Columbia government.
“In the current environment, we will not put [Kinder Morgan] shareholders at risk on the remaining project spend,” Steve Kean, Kinder Morgan’s chair and chief executive officer, said in a press release Sunday afternoon.
The company said it will, however, consult with stakeholders in an effort to reach agreements before May 31 that could allow the pipeline project to proceed.
‘A company cannot resolve differences between governments’
The pipeline project has support from the federal government, as well as the provincial governments in Alberta and Saskatchewan.
At a press conference Sunday afternoon, Alberta Premier Rachel Notley said the May 31 deadline imposed by Kinder Morgan is a serious concern for Alberta, but said she is confident that the expanded pipeline will be built.
Notley said she can understand the frustration of the Houston-based board with “not knowing how many more legal fronts they need to fight.”
But she added that this pipeline is so important to Alberta that the province would consider becoming a co-owner. “Alberta,” Notley said, “is prepared to be an investor in the pipeline.”
CBC News – April 08, 2018.
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