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Money Morneau: we'll back Trans Mountain investors

17:12  16 may  2018
17:12  16 may  2018 Source:   msn.com

Bill Morneau to give 'major update' on Kinder Morgan pipeline talks Wednesday

  Bill Morneau to give 'major update' on Kinder Morgan pipeline talks Wednesday Bill Morneau to give 'major update' on Kinder Morgan pipeline talks WednesdayA news conference scheduled for 9 a.m. Wednesday in Ottawa will be the first detailed update on the efforts to save the controversial Trans Mountain Pipeline expansion since Prime Minister Justin Trudeau asked Morneau to work with Kinder Morgan to find a path forward.

The finance minister says the federal government is willing to support other investors interested in the Trans Mountain pipeline expansion if Kinder Morgan

The Trans Mountain Pipeline System, or simply the Trans Mountain Pipeline, is a pipeline that carries crude and refined oil from Alberta to the west coast of British Columbia, Canada. " Trans Mountain pipeline system" and " Trans Mountain Expansion Project", TMX, are since August 31, 2018

a man standing in front of a building© Provided by thecanadianpress.com

OTTAWA - If Kinder Morgan wants to abandon plans to build the Trans Mountain pipeline expansion, there are plenty of other investors out there willing to take up the cause — and they will have the backing of the federal Liberal government, Finance Minister Bill Morneau says.

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Kinder Morgan Inc

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Trans Mountain pipeline supporters rally around Kinder Morgan

  Trans Mountain pipeline supporters rally around Kinder Morgan Nearly 100 supporters gathered outside the conference centre hosting the Kinder Morgan annual general meeting in downtown Calgary on Wednesday to show their unwavering support for the Trans Mountain pipeline amid uncertainty about whether the project will go forward. James Robson, spokesperson for rally organizers Canada Action says the group is dedicated to showing Canadians’ […]James Robson, spokesperson for rally organizers Canada Action says the group is dedicated to showing Canadians’ support for the project.

Bill Morneau says building the expansion is in the 'best interest' of Canadians. The finance minister says the federal government is willing to support other investors interested in the Trans Mountain pipeline expansion if Kinder Morgan backs out.

The finance minister says the federal government is willing to support other investors interested in the Trans Mountain pipeline expansion if Kinder Morgan backs out. Bill Morneau says building the expansion is in the “best interest” of Canadians.

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The government is willing to "provide indemnity" to any investors, be they the project's original architects or otherwise, to ensure the controversial Alberta-B.C.. project is able to proceed, Morneau told a news conference Wednesday.

The announcement, coming on the very day when the company's Calgary-based Canadian operation is scheduled to hold its annual meeting, bore the hallmarks of an effort to ratchet up the pressure in advance of Kinder Morgan's May 31 deadline.

Amid mounting opposition from the B.C. government, environmental groups and protesters, not to mention skittish investors, the company last month halted all non-essential spending on its $7.4-billion plan to double an existing pipeline between Edmonton and Burnaby, B.C.

Rachel Notley: Jagmeet Singh 'Absolutely, Fundamentally, Incontrovertibly' Wrong About Trans Mountain Project

  Rachel Notley: Jagmeet Singh 'Absolutely, Fundamentally, Incontrovertibly' Wrong About Trans Mountain Project Rachel Notley: Jagmeet Singh 'Absolutely, Fundamentally, Incontrovertibly' Wrong About Trans Mountain ProjectAt a press conference in Edmonton, a reporter read a tweet from Jagmeet Singh in which he said it is "clear" the Alberta-British Columbia pipeline shouldn't be built after it was approved through a "rigged" process.

We know in any project there’s risks, investors know when they invest in a company there are risks Finance Minister Bill Morneau speaks about the Trans Mountain Expansion project at a press Episode #592: B.C. and Alberta at odds over Trans Mountain pipeline. Episode #591: Singh won’t let

“ We are willing to indemnify the Trans Mountain expansion against unnecessary delays that are politically motivated,” Morneau said. “If Kinder Morgan is not interested in building the project — we think plenty of investors would be interested in taking on this project, especially knowing that the

"We are willing to indemnify the Trans Mountain expansion against unnecessary delays that are politically motivated," Morneau said — a reference to B.C. Premier John Horgan's ongoing refusal to allow the project to proceed, despite federal jurisdiction.

"If Kinder Morgan is not interested in building the project — we think plenty of investors would be interested in taking on this project, especially knowing that the federal government believes it is in the best interest of Canadians and is willing to indemnity to make sure it gets built."

He said investors need certainty in order to back a project that the government has repeatedly insisted is in the national interest, but steadfastly refused to say what sort of dollar figures are currently on the table.

Morneau did not directly answer when he was asked how other investors or companies could conceivably take over a project to expand an existing pipeline that already has an owner.

Alberta passes bill 'to turn off the taps' to B.C. over pipeline delays

  Alberta passes bill 'to turn off the taps' to B.C. over pipeline delays Alberta has passed legislation giving the energy minister power to stop gasoline shipments to British Columbia if that province continues to throw up barriers to the Trans Mountain pipeline expansion, and Alberta's premier says she is ready to use it. Bill 12 passed late Wednesday afternoon in the Alberta Legislature. David Swann, the Liberal for Calgary-Mountain View, was the only member of the legislature to vote against it.

Morneau says investors need certainty in order to back a project that the government has repeatedly insisted is in the national interest. WATCH: Morneau calls out Premier Horgan’s ‘deliberate attempts to frustrate’ Trans Mountain .

“ We are willing to indemnify the Trans Mountain expansion against unnecessary delays that are politically motivated,” Morneau said—a reference to “This pipeline that Kinder Morgan currently has, the Trans Mountain pipeline, has been there since 1953, so we see that the twinning of that pipeline

"This pipeline that Kinder Morgan currently has, the Trans Mountain pipeline, has been there since 1953, so we see that the twinning of that pipeline is one of the most effective ways to get our resources to market responsibly," he said.

"We see a path to an outcome that will assure that we can get the advantage that we're seeking; that's why those discussions are ongoing. We do know that in order to make sure that we have that path, we need to deal with the extraordinary risks that have been presented by Premier Horgan."

The finance minister had been engaged in intensive talks with Kinder Morgan officials up until Tuesday, but the two sides have yet to declare any common ground on the amount of federal money involved.

"Discussions with Kinder Morgan continue — and we are striving to get to an agreement by the May 31 deadline."

Morneau's talks with Kinder Morgan had their genesis a month ago, when Trudeau promised to deploy both financial and legislative tools to ensure the disputed expansion is able to proceed.

During a remarkable eight-hour stopover in the national capital, an unscheduled break from a busy overseas travel itinerary, Trudeau convened a summit in Ottawa with B.C.'s John Horgan, who has staked his government's survival on opposing the pipeline, and Alberta Premier Rachel Notley, whose province's economic health depends on it.

Pipeline won't cause tension with Notley: Horgan

  Pipeline won't cause tension with Notley: Horgan LANGFORD, B.C. - The premiers of British Columbia and Alberta will join their counterparts from Western Canada and the North at meetings next week in Yellowknife, but John Horgan doesn't expect any drama over the Trans Mountain pipeline expansion project. Horgan acknowledges he and Alberta's Rachel Notley have differences on the pipeline, but he said Friday they are in agreement on a number of other matters and have been friends for 20 years. The Horgan acknowledges he and Alberta's Rachel Notley have differences on the pipeline, but he said Friday they are in agreement on a number of other matters and have been friends for 20 years.

Contact us 603-943-5647 Contact us online. Morneau Law is conveniently located in downtown Nashua, New Hampshire. Read our client testimonials to see the Morneau Law difference. We understand that you may have a busy schedule that prevents you from visiting us during our regular

Finance Minister Bill Morneau said Wednesday he is prepared to protect the Trans Mountain oil pipeline expansion to the west coast against financial “ We ’re a private firm, we do the things that we should do for the investors that we serve, ”said Kean. “These are government entities, obviously, the

Trudeau instructed Morneau to sit down with Kinder Morgan to find a financial solution that would soothe their investors. He also promised legislation that would reaffirm Ottawa's authority to press ahead with a development deemed to be in Canada's national interest.

The Liberal government position is that it approved the project in 2016 after a rejigged environmental assessment and Indigenous consultation process, and in concert with the its climate change and oceans protection plan. Approval came in consultation with the previous B.C. Liberal government, which gave its consent to the project after its own conditions were met.

Horgan's election last year changed that. His minority government exists at the pleasure of the Green party, and on condition of his continued opposition to the project.

Note to readers: This is a corrected story. The previous version suggested the Kinder Morgan annual meeting is tomorrow instead of today.

Now that you own your own pipeline, here are some things you should know .
So you’ve bought yourself a pipeline, eh? Here are a few things to know about it: The original route is 65 years old It’s 1150 km long. First opened in 1953, the pipeline has run pretty well over its history, though it’s averaged just over a leak a year. Heck, there was one on Sunday in […]So you’ve bought yourself a pipeline, eh? Here are a few things to know about it:

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