Key dates in the history of the Trans Mountain pipeline — TIMELINE

Key dates in the history of the Trans Mountain pipeline — TIMELINE

Tuesday's announcement came two days before Kinder Morgan's deadline of May 31 to get a commitment that the pipeline would indeed be constructed.

"Ultimately it will take far more than this to restore investors' faith in Canada's project approval process".

August 2015: The NEB postpones public hearings after striking from the record economic evidence prepared by a Kinder Morgan consultant who was to begin working for the regulator.

NDP Leader Jagmeet Singh said he has not instructed any other MPs in his caucus about how to participate in protests and said he understands the frustration and anger of people who felt the Trudeau government promised to protect the environment, not build more pipelines.

May 29, 2018: Federal government announces deal to buy the Trans Mountain pipeline and expansion project from Kinder Morgan Canada for $4.5 billion. The 980-kilometre (600-mile) expansion is seen by the oil industry as a crucial link to Asian markets, allowing producers to diversify away from the US, which takes the vast majority of Canadian oil exports.

The Trans Mountain expansion would nearly triple capacity to 890,000 barrels of oil on a line running from Alberta to a terminal near Vancouver. "That's a very fair price".

"We are purchasing the assets; we are purchasing the existing assets, and the investment in the twinning of that pipeline, and those assets are what is required for us to move forward with the expansion", he said.

"This is a great day, not only for our company but for Canada", he said.

However, GMP FirstEnergy said the buyout was negative for future Canadian investment prospects.

2006 - 2008: The Anchor Loop project adds 160 kilometres of new pipeline through Jasper National Park and Mount Robson Provincial Park between Hinton, Alta., and Hargreaves, B.C. The extension includes 13 new pump stations and modifications to existing stations, increasing capacity from 260,000 bpd to 300,000 bpd.

The pipeline expansion would triple the capacity of an existing line to ship oil extracted from the oil sands in Alberta across the snow-capped peaks of the Canadian Rockies.

Twelve of the 13 oil producers - including BP Canada, Teck Energy Sales, Andeavor and Canadian Natural Resources - did not respond to Reuters inquiries or declined to comment on their contracts with Kinder Morgan. According to PSAC, the oil and gas industry in Canada supports over 540,000 jobs across the country. Resistance from Canada's First Nations and the province of British Columbia have stalled the pipeline, and Kinder Morgan said last month that it would make a decision by May 30 on whether to proceed with the project.

"It might have been a miscalculation on the premier's part to do the victory lap", said Brown.

More news: Oil slides amid 'lack of clarity' on OPEC and record USA production
More news: GM's autonomous vehicle unit receives $2.25 billion boost from investment firm
More news: Serena Williams Wears Inspiring Catsuit at 2018 French Open

The government has said it is willing to cover the costs of budget overruns on the pipeline caused by political interference from British Columbia, but the company has not yet indicated if that will be enough to convince it to put shovels in the ground.

"So the feds need to get the pipeline built before they can realistically look for another buyer".

December 7, 2017: NEB allows Kinder Morgan Canada to bypass Burnaby bylaws.

Sanders was unavailable for an interview Tuesday, a company spokesman said.

The Canadian government, however, has no intention of owing the pipeline system for the long term. She opposed it specifically for that reason, unlike most other opponents who have cited fear of oil spills.

January 27, 2016: The federal Liberal government says pipeline projects such as the Trans Mountain expansion will now be assessed in part on the greenhouse gas emissions produced in the extraction and processing of the oil they carry.

January 17, 2018: Kinder Morgan Canada warns the Trans Mountain expansion project could be a year behind schedule.

"Now Kinder Morgan's US shareholders will be made whole", she said.

"The Trans Mountain expansion project is of vital interest to Canada and to Canadians", Morneau told a news conference in Ottawa.

Buying the pipeline outright became increasingly likely after Trudeau first pledged only to backstop it.

January 30, 2018: B.C. government moves to restrict any increase in diluted bitumen shipments until it conducts more spill response studies, a move that increases the uncertainty for Trans Mountain. The prime minister reiterated his intentions to get the line completed as he headed into a meeting with his cabinet Tuesday.

Trudeau could theoretically nullify any provincial law that effectively kills a federally approved project under a constitutional provision that hasn't been used since the 1940s.

The prime minister is already paying the political price. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Related Articles

  • Memorial Tournament -- Tiger Woods cards 4-under 68 in third round

    Woods led the field in proximity to the hole Friday, and he hit another dart to within 10 feet to set up a birdie at the sixth. Woods was more focused on his own game than impressed with the young rising star from Chile.

    Canon will no longer sell any film cameras

    Canon is officially retiring the film portion of its business and discontinuing the the 35mm EOS-1v, its last film camera. It's uncertain as to whether Canon has now run out of the SLR or whether it's just chose to end sales for another reason.
    Exposure of European steel industry to Trump tariffs

    Exposure of European steel industry to Trump tariffs

    The six other members and the European Union all voiced opposition to the USA tariffs, Aso said after the second day of the talks. The U.S. allies pledged retaliatory countermeasures and warned of a trade war that would ultimately hurt American consumers.
  • FCA set to reform high-cost lending - Debt

    FCA set to reform high-cost lending - Debt

    The CCTA - a trade body representing over 300 lenders in the consumer credit industry - does, however, "welcome" the changes. The FCA will furthermore look into tackling the home-collected credit sector, as well as catalogue and store cards.
    Kanye West Fans Really Like

    Kanye West Fans Really Like "Ghost Town" Off ‘Ye’ Album

    Kanye West's eighth studio album is now available to stream on most platforms, some of which you can find below. The album itself features a number of A-list artists such as Kid Cudi and Nicki Minaj .
    Israel serves Hamas ‘severest blow’ in years: PM

    Israel serves Hamas ‘severest blow’ in years: PM

    Late Wednesday, however, Kuwait - which now sits on the UNSC as a non-permanent member - blocked the text of the draft in its current form.
  • ShoppingTown Sears employees say store will close in September

    ShoppingTown Sears employees say store will close in September

    Now it's hired a second set of advisers to re-shop its Kenmore appliance brand along with some home-services businesses. Sears shareholders argued that the "highly conflicted transaction" would probably "plunge the company into insolvency".
    White House says Trump is not defending Barr

    White House says Trump is not defending Barr

    Barr has since given the excuse she had written the tweet on the sleeping drug Ambien. When asked if he might get his own show, he said , "You've heard more than I have".

    5 dead, nearly 200 sick in romaine E. coli outbreak

    Most new cases involve people who became sick two or three weeks ago, when the tainted lettuce was still available for sale. Health officials have tied the E. coli outbreak, the largest in a decade, to romaine lettuce grown in Yuma, Arizona.
  • Babchenko says he was covered in pig's blood for fake death ruse

    Babchenko says he was covered in pig's blood for fake death ruse

    Ukrainian authorities said the goal of the staged murder was to catch the people who'd actually been planning to kill Babchenko. He said he was told that $40,000 had already been transferred for the alleged assassination attempt.
    Leeds lead the league in turnover of managers

    Leeds lead the league in turnover of managers

    Assistant manager Jamie Clapham, head of fitness Nathan Winder and analyst Alex Bailey have also left Leeds along with Heckingbottom.
    Vermont will pay remote workers $10000 to move there

    Vermont will pay remote workers $10000 to move there

    Vermont is, of course, famous for its maple syrup, producing almost two million gallons of the delicious sweet product in 2017. To address worker shortages, small towns in MI and OH are also offering financial incentives to people willing to move.