Kinder Morgan CEO says political solution needed for Trans Mountain project
The Canadian PressIndustry Mining & Resources
Calgary – Kinder Morgan’s chief executive says the company 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.
Alberta Premier Rachel Notley suggested Sunday the province could invest in the project to ensure completion of the pipeline expansion to carry Alberta bitumen from the oilsands to an export terminal near Vancouver.
Kinder Morgan CEO Steve Kean told a conference call Monday that he’s open to Notley’s suggestion, but there needs to be a clear political signal that there won’t be additional delays to the project.
Kinder Morgan suspended all non-essential activities and related spending on the project Sunday. The company has set a May 31 deadline for talks with “various stakeholders” to allow the project to proceed.
Kean says the opposition by the B.C. government is something that Kinder Morgan can’t resolve and suggested that either the province needs to change its position or the federal government must resolve the impasse.
Kinder Morgan has spent about $1.1 billion on the $7.4-billion project so far.