Natural Resources Minister Jim Carr says he is absolutely confident Canada and Kinder Morgan will come to a financial agreement that will convince the pipeline builder to proceed with the Trans Mountain expansion before its May 31 deadline.
Speaking at a conference in Ottawa today, Carr says it was understandable that the threat of ”endless court action” gave Kinder Morgan’s investors pause about proceeding.
He says the government and the company have just a few more weeks to find a way for Ottawa to help alleviate enough of those jitters that the company will resume spending on pipeline construction this summer.
Carr says he has full confidence that will happen, but will not provide any details of the ongoing negotiations.
He says the legislation Prime Minister Justin Trudeau has promised to reassert federal authority to approve and build the pipeline is still being discussed as an optio, but would not guarantee it will ever be introduced.
Carr says as the world transitions to cleaner fuels, it will be decades before traditional oil is cast aside, requiring that Canada continue to develop and sell it in order to finance the path to a greener future.
The Canadian Press