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Canada Backstops Kinder Morgan for Trans Mountain Delays

  • Morneau offers to indemnify firm, singling out B.C. premier
  • Company has set May 31 deadline for decision on project
Updated on

Justin Trudeau’s government is prepared to reimburse Kinder Morgan Canada Ltd. for any financial losses incurred by “politically motivated” delays in its proposed pipeline expansion to the Pacific coast.

Canadian Finance Minister Bill Morneau said Wednesday he will “indemnify” the C$7.4 billion ($5.6 billion) Trans Mountain project, which faces fierce opposition from British Columbia’s provincial government. He added that Canada is prepared to backstop any other company willing to take on the project if Kinder drops out.