Kinder Morgan’s Pipeline Deadline is Approaching

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CBJ — Efforts to save the $7.5 billion Trans Mountain pipeline project is now in the 11th hour, with Kinder Morgan Canada saying it will stick to its hard deadline to have all issues resolved and a green light given.

The proposed pipeline expansion has been held up by British Columbia, which has expressed environmental concerns and raising doubts among investors, contractors and government officials about reaching a deal.

Kinder Morgan set a firm May 31 deadline to decide if it will proceed with the expanded line from Edmonton, Alberta to a port in the Vancouver area, which would give landlocked Canadian crude greater access to foreign markets.

The federal government has vowed to build the pipeline with or without Kinder Morgan, and has offered to indemnify the company against losses related to B.C.’s delays.It has also made the same offer to any other company that would be willing to pick up the project if Kinder Morgan does in fact pull out.

@CanBizJournal

 

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