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CP NewsAlert: Trans Mountain pipeline work suspended by Kinder Morgan

CALGARY —Kinder Morgan says it is suspending all non−essential activities and related spending on the Trans Mountain pipeline expansion project.

The company says its decision is based on the British Columbia government’s opposition to the project, which has been the focus of sustained protests at its marine terminal in Burnaby, B.C.

Kinder Morgan says it will consult with “various stakeholders” to try and reach an agreement by May 31 that might allow the project to proceed.

The company’s decision will be seen as a blow Prime Minister Justin Trudeau, who has insisted that the pipeline would be built, despite the angry protests and the B.C. government’s continued battle against the project in the courts.

The expansion, which would triple the amount of oil flowing from Alberta to Burnaby, was approved by the federal government in 2016.

Kinder Morgan says it will make a decision about the project’s future based on whether it can get “clarity” on its ability to do construction in B.C. and protect its shareholders.

“As KML has repeatedly stated, we will be judicious in our use of shareholder funds. In keeping with that commitment, we have determined that in the current environment, we will not put KML shareholders at risk on the remaining project spend,” Steve Kean, the company’s chairman and chief executive officer, said in a statement.

“A company cannot resolve differences between governments. While we have succeeded in all legal challenges to date, a company cannot litigate its way to an in−service pipeline amidst jurisdictional differences between governments.”

Kean said the uncertainty around the company’s ability to finish the project “leads us to the conclusion that we should protect the value that KML has, rather than risking billions of dollars on an outcome that is outside of our control.”

About 200 people have been arrested near Kinder Morgan’s marine terminal in Burnaby, B.C., during recent protests.

Read the full report here.

The Canadian Press

The Canadian Press

As Canada’s national news agency for 100 years, The Canadian press has provided Canadians an unbiased news source, driven by truth, accuracy, and timeliness.

Comments

  • Way to go Horgan. Bankrupt BC and Alberta for the sake of a minority represented by protesters paid by the US oligarchs!

  • Dont blame them. Even MPs are among these wierdos..but no oil will get the attention it needs to help the silent majority speak up.

  • I think Horgan overestimates the number of British Columbians who support his hardline stance against the pipeline. The protesting crowd did not even look representative of Burnaby, which is 55% visible minority.

  • This is tragic to the whole Canadian Economy. Folks even if you are concerned about the environment. Don’t oppose flowlines. They are the safest way to transport oil. Look forward to more trains hauling oil coming to a town near you. Both east and west. The oil will move. In the meantime our oil companies face huge discounts per barrel. This all translates to a lower standard of living for all Canadians. In the meantime I’m sure all you environmentalists and protestors will still continue to buy and use items made from petroleum based products. Probably fly around the world on vacations or to protests. Drive cars. Etc. Even electric cars are almost entirely made from petroleum based products. Hypocrite. Hope you enjoy your taxes going up as governments at every level have less revenue cause our natural resources can’t get to market. The coast lines and rivers you worry about will still have oil tankers coming from other countries to Canada. Ludicrous

  • So, let me get this strait, bc government manufactures roadblocks over the twinning of mostly existing infrastructure on the premise of " the environment", because it originates in Alberta, but is actively trying to develop its own natural gas reserves along with a port terminal using, you guessed it, a new pipeline? Hypocrisy much? Brought on by paid protesters by unnamed sources.

  • BC put 4 tug boats with the ships 1 front port 1back port side 1 starboard side 1 back starboard side hocked up to the ships until they are safely of the coast. Have 2spill crews waiting on the water and follow the ships out away from the coast.

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