Trans Mountain court action continues, John Horgan says

Olive Hawkins
June 1, 2018

The Globe and Mail quoted B.C. Attorney General David Ebby as saying "The province is fully living up to its commitments under the agreement, and we expect that any future owner of the project would live up to theirs", noting that the original agreement between the province and Kinder Morgan included no condition that the provincial government can not change its mind about the Trans Mountain expansion.

Tuesday, Kinder Morgan Canada announced a deal in the works to sell its Trans Mountain pipeline and expansion project to the Government of Canada for $4.5 billion. The Canadian government bought the project in an effort to ensure it goes forward as the summer construction season nears.

"We continue to engage in financial discussions on the way we are going to do that", Trudeau said. "The only (way) in our estimation that that can be done is through exerting our jurisdiction by purchasing the project". Scotiabank reaffirmed an "outperform" rating and issued a C$23.00 price target on shares of Kinder Morgan Canada in a report on Monday, April 16th.

Kinder Morgan Canada shares initially jumped as much as 8.5 percent before ending down 3 percent, while the broader Canada share index fell 0.6 percent.

Pending their approval, the sale would be finalized sometime in August or September.

The Prime Minister responded with a quote from Notley that the government met the deadline set by Kinder Morgan and "this project has more certainly than ever". The pipeline, running from the oil sands of Alberta to a port in the Pacific province of British Columbia, would allow Canadian crude to gain greater access to foreign markets and higher prices.

There is some validity to these sentiments as those who oppose the Trans-Mountain pipeline project, including the BC NDP provincial government, have indicated they will continue to oppose the project regardless of the change in ownership. Canada would then proceed with construction, selling the pipeline when it would generate the best return.

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She suggested that could mean B.C.'s constitutional argument over that government's say in what moves through the province will have less relevance.

Horgan's government has since sued Alberta to stop the bill.

March 9, 2018: B.C. Supreme Court grants interim injunction aimed at preventing anti-pipeline activists from protesting construction at two terminals in Burnaby. For years, it transported standard crude oil without controversy.

"Kinder Morgan has recently indicated that it needs to be provided with certainty that it can build the Trans Mountain Pipeline by May 31 or it is not proceeding with the project", town documents stated.

"I'm simply asking my government to take a look at TransCanada, Energy East, and see if maybe the parties of TransCanada, our government could get together and find a way to revisit, reboot, restart a process that could lead to Energy East coming to Saint John, New Brunswick, my riding", he said.

"It does not change the course that the Government of British Columbia has been on", Horgan said.

The federal minister of natural resources and the Alberta and B.C. premiers will also receive a copy of the letter, documents read. Any money put toward construction would be converted into an equity stake in the federal project, she said. We don't have a lot of people who are hardcore federal Liberals. Indigenous groups said their concerns are being ignored.

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