Alberta Premier Rachel Notley is responding to an announcement this morning by the federal finance minister that Ottawa is willing to compensate backers of the Trans Mountain pipeline project against any financial loss due to political obstruction.
CBC is livestreaming Notley’s news conference from the Alberta legislature at 11:30 MDT.
Earlier this morning, Finance Minister Bill Morneau said Canada is willing to write Kinder Morgan — or whoever else steps up to the plate — a cheque to ensure the Trans Mountain pipeline expansion gets built.
Morneau’s comments came just hours before Kinder Morgan Canada’s stakeholders plan to meet in Calgary. The incentive offer comes two weeks before the company’s potential drop-dead date.
Kinder Morgan has threatened to abandon the project if a clear path forward isn’t reached by May 31.
Morneau consulted with senior officials in the Alberta government and Kinder Morgan CEO Steve Kean Tuesday night.
Last month, Kinder Morgan stopped all non-essential spending on its $7.4-billion project after a months-long standoff between the British Columbia and Alberta governments.
B.C. has been working to block the pipeline for environmental reasons over Alberta’s objections.
The expansion would add a second pipeline along Kinder Morgan’s existing pipeline route to carry diluted bitumen from Alberta to the B.C. coast for export on tankers.