From Bloomberg About a dozen parties are interested in the Trans Mountain oil pipeline, but the Canadian government won’t reach a deal to flip it before a marketing deadline with Kinder Morgan Inc. closes Sunday, according to people familiar with the situation. The government’s C$4.5 billion ($3.4 billion) purchase of the pipeline and expansion project gave it to July 22
From Reuters The Canadian government would like to see construction accelerate on the Trans Mountain pipeline expansion, but has no control over decisions to resume or start new work until it takes ownership of the major crude oil pipeline project, Canada’s natural resources minister said. “We think that construction and staying on a schedule is important, but that will be
“If [the pipeline] doesn’t get pushed through, it changes the trajectory of what the Canadian energy industry looks like.”- RBC From CNBC The Canadian government has opted to buy a pipeline project that will more than double the oil its energy industry can send to the West Coast — and then on to new markets in Asia. The purchase comes,
Bill gives cabinet and environment minister final power to approve or reject a project regardless of the findings of an environment assessment In February 2018, Catherine McKenna, the federal Minister of Environment and Climate Change, introduced Bill C-69. The bill may replace the Canadian Environmental Assessment Act of 2012 (CEAA 2012) with the Impact Assessment Act. McKenna claimed the new
Kinder Morgan (ticker: KMI) subsidiary Kinder Morgan Canada Limited (TSX: KML) has agreed to the purchase of the Trans Mountain Pipeline system and the expansion project (TMEP) by the Government of Canada for C$4.5 billion, the company said in a press release this morning. Kinder Morgan said it will work with the Government of Canada to seek a third-party buyer
From the Globe and Mail – by ALEX POURBAIX AND TIM MCKAY The clock is ticking down to Kinder Morgan’s decision about whether to proceed with the Trans Mountain expansion pipeline. Meanwhile, Canadian oil continues to trade at a discount with transportation bottlenecks that keep it from reaching new markets – even with global oil prices at a three-year high. It should
Canada’s Federal Government Ready to Compensate Kinder Morgan for Delays From the Star OTTAWA—The Texas-based oil firm threatening to kill its planned expansion of an Alberta-B.C. pipeline reacted coolly to Ottawa’s offer Wednesday to compensate the company for any financial losses due to political opposition of the B.C. government. But Steve Kean, chairman and CEO of Kinder Morgan, owner of
Kinder Morgan Canada Limited Issues Statement…
B.C.’s Horgan is steadfast in goal to keep pipe project out of his province; Trudeau seeks federal jurisdiction over line From Bloomberg “We are going to get the pipeline built. It is a project in the national interest,” Prime Minister Justin Trudeau told reporters Sunday after meeting with premiers of British Columbia and Alberta. He asked Finance Minister Bill Morneau
From The Globe and Mail CALGARY, VICTORIA AND OTTAWA Alberta Premier Rachel Notley is looking at an outright government purchase of the Trans Mountain pipeline to ensure its planned expansion is completed to ship more oil to Asia-Pacific markets. In the escalating battle over the oil sands pipeline project, the Alberta Premier signaled on Tuesday she could put provincial taxpayers’
KMI’s successful Canadian IPO provides cash to pay down debt, clearing path for Trans Mountain FID “Upon the completion of the IPO, we will have secured satisfactory financing for the Trans Mountain Expansion Project,” Kinder Morgan CEO Steve Kean said in a statement on May 25, 2017. The company’s Canadian business IPO was completed today and the shares began trading
Kinder Morgan Canada Limited (ticker: KML) and Kinder Morgan, Inc. (ticker: KMI) completed an IPO of 102,942,000 restricted voting shares of KML at a price to the public of $17.00 per share for total gross proceeds of approximately C$1.75 billion. The company said the proceeds of the offering will be used to indirectly acquire from Kinder Morgan an approximate 30%
