OTTAWA - A federal investment in the Trans Mountain pipeline is one of the possibilities the Liberal government is considering to help get the controversial project completed, says Natural Resources Minister Jim Carr. Alberta Premier Rachel Notley says her province is prepared to invest in the pipeline directly if it would help keep investors on board — a notion her opposition rival, United Conservative party Leader Jason Kenney, says he would support as long as Ottawa also puts money on the [Read more]
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Kinder Morgan CEO says political solution needed for Trans Mountain project
CALGARY - Kinder Morgan is open to discussing an investment in its Trans Mountain pipeline expansion by the Alberta government if there's clear assurance that the project can actually be completed, the company's chief executive said Monday. Alberta Premier Rachel Notley suggested Sunday the province could invest in the project to ensure it goes forward after the company said it has suspended all non-essential activities and related spending on the pipeline expansion that would carry Alberta [Read more]
CEPA calls for immediate federal action on Trans Mountain Expansion Project
CALGARY, ALBERTA – 9 APRIL 2018 - The Canadian Energy Pipeline Association (CEPA) is deeply concerned about Kinder Morgan’s decision to suspend all non-essential activities and related spending on the Trans Mountain Expansion Project (TMEP). “This decision by Kinder Morgan is clearly the result of actions by the Government of British Columbia to frustrate a project that has already been approved by the regulator, federal and provincial governments. The facts and evidence gathered through [Read more]
Crescent Point Energy says activist Cation Capital lacks credibility
CALGARY - An activist investor is seeking changes on the board of Crescent Point Energy Corp., but the company says it lacks credibility and is engaged in an ill-conceived and self-serving exercise. Cation Capital Inc., which holds a 0.3 per cent stake in Calgary-based Crescent Point, said Monday it plans to nominate four people for election to the company's board, which has 10 members. "We believe Crescent Point's assets have tremendous long-term potential and the ability to create [Read more]
Alberta premier spells out retaliation in ‘frank chat’ with B.C. premier
EDMONTON - Alberta Premier Rachel Notley says British Columbia's opposition to the Trans Mountain pipeline threatens the rule of law in Canada and says she made it clear in a phone call to B.C. Premier John Horgan that her province is retaliating. Notley says they had what she called a "very frank chat." She says she is also introducing legislation this week to give Alberta the power to reduce oil flows to B.C., which could send gas prices in the province soaring. Notley's comments [Read more]
Business groups, Opposition denounce B.C. obstruction amid pipeline delay
VICTORIA - British Columbia's Opposition leader says the provincial government has ignored the rule of law over the Trans Mountain pipeline. Andrew Wilkinson says investors need to know that the provincial government will treat everyone equally. Kinder Morgan has suspended all non-essential spending and work on the $7.4-billion pipeline project and Premier John Horgan said Sunday he would not back away from defending provincial interests. Greg D'Avignon, president of the B.C. Business [Read more]
Kinder Morgan Canada’s pipeline woes hurting investment in Canada: observers
CALGARY - The suspension of work on Kinder Morgan Canada Ltd.'s Trans Mountain pipeline expansion project will have a "chilling" effect on overall investment in Canada, industry observers say. "Any slowdown or uncertainty regarding a pipeline is clearly a major factor impacting business investment in the energy space," CIBC deputy chief economist Benjamin Tal said in an interview on Monday. "Energy investment is a very important part of total investment in Canada especially when it comes [Read more]
Kinder Morgan Canada shares sink on Trans Mountain halt
Shares of Kinder Morgan Canada fell as much as 19 percent on Monday to their lowest since its stock exchange listing, a day after the company suspended most work on its C$7.4 billion expansion of the Trans Mountain pipeline. Chief executive Steve Kean said on Sunday he would scrap plans to nearly triple the capacity of the pipeline, which carries crude from Alberta's oil sands to a facility in British Columbia, unless legal challenges are resolved by May 31. The expansion, for which [Read more]
Kinder Morgan Canada say no dividend cuts despite Trans Mountain suspension
Kinder Morgan Canada said on Monday its dividend payouts would not be affected by the suspension of works on C$7.4 billion ($5.8 billion) oil pipeline expansion. Chief executive Steve Kean said on Sunday he would scrap plans to nearly triple the capacity of the Trans Mountain pipeline, unless legal challenges are resolved by May 31. The pipeline carries crude from Alberta's oil sands to a facility in the Pacific province of British Columbia. [Read more]
Timeline: Key dates in the history of the Trans Mountain pipeline
VANCOUVER - Here are some key dates in the history of the Trans Mountain pipeline and Kinder Morgan Canada's efforts to expand its capacity: October 1953: The Trans Mountain pipeline begins shipping oil with an initial capacity of 150,000 barrels per day. The project features four pump stations along its 1,150-kilometre route and a marine dock that connects loading facilities on the east side of Edmonton with ocean tankers in Burnaby, B.C. 1957: Pipeline capacity is expanded via [Read more]