​Trans Mountain receiving behind-the-scenes support from feds: Morneau

Canadian Finance Minister Bill Morneau. Image: Canadian Club of Toronto

Canadian Finance Minister Bill Morneau said the federal government is waging a “behind-the-scenes” campaign to make sure Kinder Morgan Inc.’s expansion of the Trans Mountain pipeline goes ahead.

The C$7.4 billion expansion would carry an additional 590,000 barrels of crude a day from Alberta to a shipping terminal in British Columbia, where it could then be sent to markets in Asia, lessening the Alberta oil industry’s dependence on U.S. buyers. But the project has been delayed by legal challenges and permitting issues in British Columbia.

The entire government is working to help reach an agreement that would mitigate British Columbia’s objections to the expansion, Morneau said. He declined to provide details of those efforts or a timeline for when they may produce results.

“We understand it’s critically important for our economy,” Morneau said at a press conference in Calgary. “We continue to work to get to a solution that works for everyone. We see that as an important federal role.”

© 2018 Bloomberg L.P

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