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Kinder Morgan Canada is open to discussing the idea of having the Alberta government invest in the controversial Trans Mountain pipeline expansion.

Premier Rachel Notley first raised the idea on Sunday in responding to the news that Kinder Morgan is suspending all non-essential spending on the project while it seeks to reduce the risk to its shareholders.

“Alberta is prepared to do whatever it takes to get this pipeline built — including taking a public position in the pipeline,” Notley told a press conference. “Alberta is prepared to be an investor in the pipeline.”

Kinder Morgan Canada’s CEO Steve Kean, speaking to analysts on Monday, said he was open to the idea but added that the company would still need clarity on being able to build through B.C. and ensure protection for shareholders from further risk.

“It’s a possibility,” Kean said. “I saw those comments and we’re open to that discussion.”

Kinder Morgan Canada announced Sunday it is suspending non-essential activities and related spending for the Trans Mountain pipeline expansion, casting a cloud over the future of the $7.4-billion project.

The company said it would still try to get agreements that would see the project advance, but would need to do so by May 31 or “it is difficult to conceive of any scenario in which we would proceed.”

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Source

Business News

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