National

Cost To Twin Trans Mountain Pipeline Now $1.9B Higher, Kinder Morgan Says

The Canadian Press, 07 Aug, 2018 12:43 PM

OTTAWA — Kinder Morgan Canada documents say expanding the Trans Mountain pipeline will cost the federal government another $1.9 billion beyond the company's original construction estimate and will take another full year to complete.

The figure is included in documents Kinder Morgan Canada filed Tuesday with the United States Security and Exchange Commission related to the company's plan to sell the pipeline to the Canadian government for $4.5 billion.

Kinder Morgan has long said it would cost $7.4 billion to build a second pipeline parallel to the first in order to triple its capacity, but the financial documents now say the company expects a $9.3-billion price tag.

The documents also suggest construction won't be done until December 2021 — a full year beyond the last projection of December 2020.

Finance Minister Bill Morneau has been reluctant to discuss how much more it will cost to build the pipeline while the deal is still being finalized, and the closing date for that deal is now being pushed back well into the fall.

The documents also say shareholders will meet Aug. 30 in Calgary to vote on the proposed sale.

Prev Next

MORE National ARTICLES

'Meant Nothing To You:' Teen Who Helped In Fatal Beating, Shared Video Sentenced

A teenager who helped attack a young Manitoba woman and shared the footage of her bloody death has been sentenced to just over three years in jail.

'Meant Nothing To You:' Teen Who Helped In Fatal Beating, Shared Video Sentenced

Emergency Crews Race To Serious Bus Crash On Highway 401, Multiple Injuries Reported

PRESCOTT, Ont. — Emergency crews are responding to the scene of a collision in eastern Ontario involving multiple people.

Emergency Crews Race To Serious Bus Crash On Highway 401, Multiple Injuries Reported

More Cougar Encounters Expected As Houses Replace Wilderness: Officer

PORT COQUITLAM, B.C. — A British Columbia conservation officer says there will be more human-wildlife conflict as real estate development continues to encroach on wilderness areas.

More Cougar Encounters Expected As Houses Replace Wilderness: Officer

My Childhood Was Stolen: Some Of Bertrand Charest's Victims Speak Out About Sexual Abuse

MONTREAL — Four of the women sexually assaulted by ex-national ski coach Bertrand Charest when they were adolescents say he robbed them of much of their childhood and turned their dreams into a nightmare.

My Childhood Was Stolen: Some Of Bertrand Charest's Victims Speak Out About Sexual Abuse

Toronto To Replace Impromptu Van Attack Memorials With Permanent Display

TORONTO — Thousands of cards, photos and flowers dedicated to the victims of a deadly van attack were dismantled by city staff at an event in Toronto on Sunday, to be replaced with a permanent memorial.