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

William (Bill) Harris of Ponoka County reported missing

Rimbey RCMP seek public assistance in locating missing male

Rimbey Business Awards Banquet Oct. 18

Rimbey & District Chamber of Commerce present annual awards

Ponoka County fire crews handle second baler fire in 12 hours

Fire crews handled a baler fire just west of Gull Lake

WCPS uses cannabis legislation to fully review drug, alcohol and tobacco policies

Cannabis is not permitted in schools; WCPS focused on providing education and support

Puff, puff, pass: Cannabis is officially legal across Canada

Alberta readies itself for cannabis sales with 17 stores (for now) and a new provincial website

Canada Post strikes leaves small shops in the lurch as holidays approach: CFIB

Rotating strikes began in Victoria, Edmonton, Halifax and Windsor

CFL playoff picture still muddled heading into weekend action

League revealed last week no fewer than 64 potential playoff permutations

New monitoring of vessel noise impact on endangered whales announced

Federal government to monitor underwater ship and mammal noise in B.C.’s Salish Sea

Three men charged in Alberta man’s murder will go straight to trial

The three men are charged with first degree murder in the death a 20-year-old from Alberta.

Liberals write off $6.3 billion in loans as part of money never to be collected

That includes student loans and a $2.6 billion write off that came through Export Development Canada

Trudeau, McKenna to announce compensation for federal carbon plan

Provinces that don’t have a carbon price of at least $20 per tonne of emissions will have Ottawa’s plan forced on them

Harry and Meghan travel in different style on Australia tour

Prince Harry and his wife Meghan are on day seven of their 16-day tour of Australia and the South Pacific.

AP Exclusive: Stephen Hawking’s wheelchair, thesis for sale

The online auction features 22 items from Hawking, including his doctoral thesis on the origins of the universe, with the sale scheduled for 31 October and 8 November.

Most Read