Well-funded environmental groups opposed to Trans Mountain received NEB funding.
Trans Mountain Mining News
Trans Mountain expansion will be on many voters’ minds in federal and Alberta elections; trade wars promise to add uncertainty to export market.
Lender is moving to a carbon-neutral state by offsetting its own greenhouse gas emissions through the purchase of carbon credits starting this year.
The lender has been evaluating its pipeline-related policy for months and said it may make the decision of not financing those kinds of projects permanent before year-end.
Construction of the $7.4 billion project is scheduled to begin in September and should be completed by December 2019.
That is how much the company will have to spend just getting the expansion project shovel-ready, according to Conference Board of Canada estimates.
But Asia rises as potential market for Trans Mountain crude say analysts.
Brace yourselves Canadians, the pipeline drama is about to heat up again.
The company will review the conditions and submit comments to the National Energy Board next week.
The National Energy Board said Kinder Morgan can conduct survey work at Burnaby Mountain, despite opposition from the city.
The merger is the largest in the energy sector in the last 15 years.
Company claims comment was part of a requirement for the application to the National Energy Board.
Despite objections from several groups, the Harper government declared over the weekend the humpback a "species of special concern" under the Species at Risk Act (SARA).
The expansion would help increase Canadian crude exports to Asian and US markets.
But the Calgary-based company acknowledges the path will be full of obstacles.
Kinder Morgan (NYSE: KMP) is going ahead with its planned $5 billion expansion of the Trans Mountain pipeline in Canada, which brings crude oil from the Alberta oil sands to Vancouver’s port.