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Feelings remain raw as Alberta seeks progress on Trans Mountain project

May 23, 2018 6:17 PM ETKinder Morgan, Inc. (KMI) StockKMI, KMLGFBy: Carl Surran, SA News Editor37 Comments
  • The dispute over Kinder Morgan's (KMI, OTCPK:KMLGF) Trans Mountain pipeline still loomed large at today's Western Premiers Conference in Yellowknife, NWT, as Alberta's representatives did not sign the communique out of the meeting because it did not include a statement of shared support of the pipeline.
  • "It is Alberta's view that the Trans Mountain pipeline must be built if the country and its provinces are able to fund Canadian priorities, such as pharmacare," Alberta deputy premier said, attending in place of Premier Notley, who boycotted the conference saying she needed to focus on KMI's May 31 deadline for getting the pipeline issue settled.
  • Advocating the project in a Vancouver Sun editorial, Notley wrote, "We can get a fair return for our oil produced under an emissions cap or we can see those resources evaporate. We can ship our energy products safely or we can ship them by rail, driving up emissions and costs."
  • Meanwhile, no suitors have publicly emerged to step into KMI.’s shoes following comments last week from Finance Minister Morneau that “plenty of investors would be interested in taking on this project,” after the federal government said it would offer an “indemnity” to guarantee it is built.
  • Former TransCanada executive Dennis McConaghy says it would be a “political disaster” for both Morneau and Notley if the pipeline in-service date is delayed beyond 2020 because both governments have staked their reputations on its completion.
  • "The deal has to get done with Kinder if the focus is to get the pipeline in service by 2020," McConaghy says, noting the cost and delays involved in bringing in a third party.

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