{"id":4401,"date":"2018-04-09T10:27:08","date_gmt":"2018-04-09T14:27:08","guid":{"rendered":"http:\/\/business.financialpost.com\/?p=1572036"},"modified":"2018-04-09T10:27:08","modified_gmt":"2018-04-09T14:27:08","slug":"kinder-morgan-considering-investing-elsewhere-as-trans-mountain-looks-untenable","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/09\/kinder-morgan-considering-investing-elsewhere-as-trans-mountain-looks-untenable\/","title":{"rendered":"Kinder Morgan considering investing elsewhere as Trans Mountain looks \u2019untenable\u2019"},"content":{"rendered":"<div class=\"pmYTPlayerContainer video-container\">\n<div id=\"pn_video_584674\"><\/div>\n<\/div>\n<p><script type=\"text\/javascript\">( function() { pnLoadVideo( \"videos\", \"1_i91i0fl9\", \"pn_video_584674\", \"\", \"\", [] ); } )();<\/script><br \/>\nCALGARY \u2013 There are other pipeline projects where Kinder Morgan Inc. can invest its shareholders money, the company\u2019s top executives said Monday, as it announced it would stop spending money on the Trans Mountain pipeline expansion between Alberta and B.C.<\/p>\n<p>\u201cWe expect to continue investing but it has become clear that this particular investment (the Trans Mountain pipeline expansion) may become untenable for a private party to undertake,\u201d said Kinder Morgan Inc. president and CEO Steve Kean.<\/p>\n<p>Shares in Kinder Morgan on the TSX fell more than 13 per cent this morning.<\/p>\n<p>Kean said $1.1 billion had been spent on the $7.4 billion project to expand the delivery of crude oil from Alberta to the B.C. coast so far. The company had previously said it was spending $30 million per month on the project, but it will now delay all non-essential spending.<\/p>\n<ul class=\"related_links\">\n<li><a href=\"http:\/\/business.financialpost.com\/commodities\/energy\/oil-sands-face-major-blow-as-kinder-pipeline-thrown-into-doubt\">Oilsands face major blow as Trans Mountain pipeline thrown into doubt<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/opinion\/b-c-cant-stop-the-oil-but-it-sure-can-screw-with-canadas-interests\">B.C. can\u2019t stop the oil, but it sure can screw with Canada\u2019s interests<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/commodities\/energy\/theres-no-punch-to-trudeaus-pipeline-pledge-he-needs-to-put-the-gloves-on\">Trudeau&#039;s pipeline pledge lacks punch. He needs to put the gloves on<\/a><\/li>\n<\/ul>\n<p>Kean re-iterated his company\u2019s May 31 deadline, asking the Canadian federal government to intervene in the inter-provincial dispute between Alberta, Saskatchewan and B.C., which has consistently opposed the project and has attempted to frustrate its progress.<\/p>\n<p>\u201cWe can\u2019t move the seasons in Canada. There are certain seasons where you can do certain things. We\u2019re on top of all that right now so we don\u2019t have the ability to just kick the can down the road,\u201d Kean said of the timing for the announcement.<\/p>\n<p>He also said he didn\u2019t want to risk more shareholder dollars until Canada could provide more certainty that it would be built.<\/p>\n<p>\u201cWe\u2019re going into a very high spend. We don\u2019t want to kick the can down the road until we have another $2 billion in the project,\u201d Kean said.<\/p>\n<p>In an attempt to bolster the project\u2019s prospects \u2013 and also as a threat to B.C. \u2013 Alberta Premier Rachel Notley announced late Sunday that her government would be willing to directly invest in the pipeline to see that it gets built.<\/p>\n<p>\u201cPremier Horgan believes he can harass the investors and managers of Kinder Morgan, that they will give up, and that this will kill this project. He is wrong here as well,\u201d Notley said in a release, adding the province would do \u201cwhatever it takes to get this pipeline built\u201d including a direct investment.<\/p>\n<p>\u201cIf we take that step, we will be a significantly more determined investor.\u201d<\/p>\n<p>Kean said he was encouraged by the Alberta government\u2019s position and was open to discussions of direct investment in the project to backstop the risk that shareholders have taken on the project so far.<\/p>\n<p><em>\u2022 Email: <a href=\"http:\/\/business.financialpost.com\/commodities\/energy\/gmorgan@nationalpost.com%E2%80%9D\">gmorgan@nationalpost.com<\/a> | Twitter: <a href=\"https:\/\/twitter.com\/geoffreymorgan\" class=\"twitter-follow-button\">geoffreymorgan<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company says it won&#8217;t risk more shareholder dollars until Canada can provide more certainty that the pipeline will be built<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/4401"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=4401"}],"version-history":[{"count":13,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/4401\/revisions"}],"predecessor-version":[{"id":4557,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/4401\/revisions\/4557"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=4401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=4401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=4401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}