Finance Minister Bill Morneau is scheduled to give an update today (Wednesday) on the state of negotiations with Kinder Morgan over the Trans Mountain pipeline project, and is expected to outline what Ottawa is willing to do to help the project proceed as planned.
CBC News reported Wednesday morning that Minister Morneau will present a suite of options to help eliminate some of the risk the project is facing after Kinder Morgan suspended financing the project in the face of opposition from the B.C. government and a protracted legal fight between B.C. and neighboring province Alberta.
At a news conference, Minister Morneau will explain how the proposed steps will help ease Kinder Morgan's concerns, while also ensuring that Canadians aren't exposed to excessive financial risk.
The news conference, scheduled for 9 a.m. in Ottawa, will be the first detailed update on the efforts to save the controversial pipeline expansion since Prime Minister Justin Trudeau asked his Finance Minister to work with Kinder Morgan to find a path forward. Wednesday is also the day when Kinder Morgan shareholders are to gather in Calgary for their annual meeting.
