A aerial view of Kinder Morgan’s Trans Mountain marine terminal, in Burnaby, B.C., is shown on Tuesday, May 29, 2018. (Jonathan Hayward/The Canadian Press)

Cost to twin Trans Mountain pipeline now $1.9B higher, Kinder Morgan says

Financial documents now say the company expects a $9.3-billion price tag

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.

READ MORE: B.C., Alberta clash as Kinder Morgan suspends Trans Mountain work

READ MORE: How will Ottawa finish a pipeline Kinder Morgan couldn’t?

READ MORE: Kinder Morgan protest in Delta ends peacefully

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.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

The politics of fear

In a chat with my boss earlier this week I told him that for the first time in my career I am actually wondering about my personal safety.

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

Watch your mailbox for info on Fire Hall Project Referendum

The newsletter provides a chart that shows the estimated tax amount a household would pay based on the assessed value of their property.

Voters’ guides are in the mail

Voters with questions about the Referendum on Electoral Reform are encouraged to contact Elections BC.

Town Council candidates draw a crowd

More than 200 people filed into Prince Charles Theatre to learn more about Creston Town Council election candidates.

B.C. NDP retreats again on empty-home tax for urban areas

Rate reduced for all Canadians, dissident mayors to get annual meeting

Jets score 3 late goals to beat Canucks 4-1

Winnipeg ends three-game Vancouver win streak

Two B.C. cannabis dispensaries raided on legalization day

Port Alberni dispensaries ticketed for “unlawful sale” of cannabis

Canada not sending anyone to Saudi business summit

Sources insist Ottawa never intended to dispatch a delegation this time around

Earthquake early-warning sensors installed off coast of B.C.

The first-of-its kind warning sensors are developed by Ocean Networks Canada

VPD ordered to co-operate with B.C. police watchdog probe

According to the IIO, a court is ordering Vancouver police to co-operate with an investigation into a fatal shooting

B.C. woman looks to reduce stigma surrounding weed-smoking moms

Shannon Chiarenza, a Vancouver mom of two, started weedmama.ca to act as a guide for newcomers to legal cannabis, specifically mothers

B.C. teen gives away tickets to Ellen Degeneres show, plans O Canada welcome

The Grade 9 student wanted to give away tickets in the spirit of inclusivity

Most Read