Key dates in the history of the Trans Mountain pipeline — TIMELINE
31 May, 2018, 10:24 | Author: Sherry Houston
Finance Minister Bill Morneau will announce as early as Tuesday morning where the government plans to go with Kinder Morgan to ensure the controversial Trans Mountain pipeline expansion will be built.
Once the sale is complete, Canada will continue the construction on its own, with a view to eventually selling the whole thing down the road, once market conditions would allow it to get the best price.
Morneau echoed Prime Minister Justin Trudeau, who told the Canadian Parliament shortly before the deal was unveiled, "It is in the national interest to go ahead with it and that's why the pipeline will be built".
If Canada indeed ends up buying the pipeline, it will be exclusively to ensure its capacity can be tripled, allowing Canada to find new export markets for its oil resources, Morneau said - and that ultimately, the long-term goal will be to find a private-sector buyer to take it over.
In an emailed statement late Monday, the Calgary-based company said it didn't intend to issue updates "unless and until these discussions have concluded or we've reached an agreement that satisfies our two objectives: clarity on the path forward, particularly with respect to the ability to construct through British Columbia, and ensuring adequate protection of our KML shareholders". 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.
"It's not the intention of the government of Canada to be a long-term owner of the project", Morneau said, adding that pension funds and indigenous groups have already expressed an interest in buying stakes in the project.
November 29, 2016: Prime Minister Justin Trudeau sanctions the Trans Mountain expansion, part of a sweeping announcement that also saw approval of Enbridge's Line 3 pipeline replacement but the end of its Northern Gateway project.
"One who not only respects the rule of law, but who understands the challenges you are up against and will work with you to find solutions that work for everyone".
Alberta Premier Rachel Notley, however, could barely contain her delight. "We have met the deadline", she tweeted.
Morneau's announcement immediately prompted more protest vows to resist the project in the name of preventing offshore oil spills and stopping thermal tar sands production blamed for increasing Canadian carbon emissions.
"The question we're putting to the court has nothing to do with a federal Crown corporation", said Horgan.
In British Columbia, Premier John Horgan said, "Tens of thousands of B.C.jobs depend on pristine coastal and inland waters".
A Kinder Morgan-led consortium planned to expand the Trans Mountain network to the western coast of Canada, tripling its design capacity to 890,000 barrels per day.
Replacement pipe is stored near crude oil storage tanks at Kinder Morgan's Trans Mountain Pipeline terminal in Kamloops, British Columbia, Canada, November 15, 2016.
"The previous government spent 10 years pitting the environment and the economy against each other; they pitted us against each other".
"Our Canadian employees and contractors have worked very hard to advance the project to this critical stage, and they will now resume work in executing this important Canadian project", Kean said in a release. The majority of Canadians understand that we are in a transition to a clean-growth century, and we will not get there overnight.
May 25, 2017: Kinder Morgan makes its final investment decision to proceed with the development, now estimated to cost $7.4 billion, subject to the successful public offering of Kinder Morgan Canada.
Canada first offered earlier this month to indemnify the expansion project but is now likely to buy it, along with the existing pipeline that's been in operation since 1953.
Now 99 percent of Canada's oil is sold to the United States at a discount, and access to the Pacific coast is seen as key to diversifying the world's sixth largest oil producer's energy exports.
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Barr's tweet and retweets continued on through the evening, a strong indication that she doesn't plan to leave Twitter after all. Barr finally broke her silence with a tweet of her own saying: "Don't feel sorry for me, guys".
She has a history of diving into political conspiracy theories on Twitter, and that's how she ended her Memorial Day weekend. Eastern, 7:30 a.m. "This is a person who, left to her own devices, is not totally in control", Harbert said .
The commercial transaction, Ottawa said, will be financed by Export Development Canada and includes pipeline and terminal assets. He promised that this project could not go through unless it was done through a vigorous review, which he broke'.
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