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

PHOTOS: Sylvan Lake Curling clubs hosts Men’s Bonspiel

The second annual event was held Jan. 11-13.

Snowfall adds some delay to morning commute

The QE2 and area road conditions in central Alberta were partly snow covered

Sylvan Lake council approves concept design for Pogadl Park

The next step is a project plan for “Phase One” construction

Hard fought win for HJ Cody senior boys Lakers

Lakers took on Camrose Jan. 10 at home and waked away with a 76-65 win

Hope restored: Sylvan Lake resident receives kidney donation from younger sister

Sylvan Lake’s Lexie Libby undergo an operation for a new kidney, donated by her sister Emma.

Trudeau says politicians shouldn’t prey on Canadians’ fears

The Prime Minister was speaking at a townhall in Ontario

Olympian snowboarder Max Parrot diagnosed with Hodgkin’s lymphoma

Each year in Canada, approximately 900 people are diagnosed with Hodgkin’s lymphoma

Environment Minister clarifies misconceptions in Bighorn proposal

Minister Shannon Phillips speaks to concerns around the Bighorn Country

‘Prince of Pot’ Marc Emery accused of sexual assault, harassment

Emery denied the allegations, but a Toronto woman says she is not the only one speaking out

Asteroids are smacking Earth twice as often as before

The team counted 29 craters that were no older than 290 million years

Canada’s arrest of Huawei exec an act of ‘backstabbing,’ Chinese ambassador says

China has called Canada’s arrest of Huawei chief financial officer Meng Wanzhou ‘politically motivated’

In limbo: Leftover embryos challenge clinics, couples

Some are outright abandoned by people who quit paying storage fees and other couples struggle with tough decisions

Netflix rejects request to remove Lac-Megantic images from ‘Bird Box’

At least two shows on Netflix’s Canadian platform briefly use actual footage of the 2013 tragedy

Three Ponoka men and one youth charged in assault case

Police obtained a search warrant and located drugs and sawed-off shot gun

Most Read