Morneau Says Ottawa Will Cover Trans Mountain Losses Caused By Political Delays

Headline Politics

Morneau Says Ottawa Will Cover Trans Mountain Losses Caused By Political Delays

Finance Minister Bill Morneau holds an Ottawa news conference on the status of discussions with Kinder Morgan about the Trans Mountain pipeline expansion project. He announces the federal government is prepared to indemnify the project from any financial loss due to delays caused by the B.C. government. The indemnity would extend to any other company that would want to take over the project if Kinder Morgan backs out.

Kinder Morgan has suspended all non-essential activities and related spending on the pipeline due to opposition from B.C. Premier John Horgan and his government. The company gave Ottawa until May 31 to end any uncertainty about the project. (May 16, 2018)