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

RV lifestyle comes to the Okanagan

BC Interior RV Show returns to Penticton for the eighth year

‘Cowardly acts’ towards homeless continue in Osoyoos

RCMP confirm they are investigating two incidents of assault on a homeless person

Funding brings sigh or relief for Penticton Search and Rescue

Province announces a funding injection for operations, equipment and training

Turning an Okanagan hospital’s medical waste into art

Safe recycled waste materials are being used by local artists to create art

Total hogwash: Mr. Banks gives cars a piggy polish

Mr. Banks, who lives on the Critteraid farm in the Okanagan, was offering the service on the weekend

VIDEO: The ‘most cosmopolitan’ of butterflies could migrate to B.C.

The painted lady butterfly will likely arrive this summer from Southern California

SPCA seizes 54 animals from Vernon property

Animals weren’t receiving adequate care

West Kelowna acquires land for Rose Valley Water Treatment Plant

The city has acquired 24 acres on Bartley Road

Indecent caller handed 18-month conditional sentence

Vancouver Island man pleaded guilty to making indecent phone and video calls to women across B.C.

Sources say Trudeau rejected Wilson-Raybould’s conservative pick for high court

Wilson-Raybould said Monday “there was no conflict between the PM and myself”

First Nations public art piece stolen in Nanaimo

Spindle Whorl went missing over the weekend, according to Nanaimo RCMP

Father-son duo at B.C. Children’s Hospital helps new dads fight depression

The pair teamed up to introduce the only known research-based mindfulness workshop for new dads

Mexican restaurant in B.C. told to take down Mexican flag

General manager of Primo’s Mexican Grill in White Rock: ‘I’ve never heard of anything like this’

B.C. NDP moves to provide tax credits, tax cut for LNG Canada

Provincial sales tax break of $596 million repayable after construction

Most Read