CALGARY, A.B. – The CEO of Kinder Morgan says events in recent days have reinforced his concerns about the viability of the Trans Mountain expansion project.
Speaking on an earnings conference call, Steve Kean said the company suspended work on the project earlier this month because the investment may be “untenable for a private party to undertake,” and that events in recent days have “confirmed” those views.
The political wrangling around the project has significantly escalated since Kinder Morgan halted work, with Alberta Premier Rachel Notley pushing to restrict oil shipments to British Columbia while B.C. Premier John Horgan stands firm in his opposition to the project.
Prime Minister Justin Trudeau flew back to Ottawa last Sunday to meet with both premiers to try solve the impasse, but the meeting ended with no clear resolution.
Trudeau said after the meeting that the federal government was prepared to financially back the pipeline, and he had directed Finance Minister Bill Morneau to sit down with the company to discuss the matter.
Kean confirmed on the call that discussions have begun, but said he was not going to make any details public until a definitive agreement has been reached or the discussions have ended.
(THE CANADIAN PRESS)