It says the company has a great deal of capital available, given Ottawa's cash deal and the plan of its 70 per cent owner, Houston-based Kinder Morgan, Inc., to spend more than $15 billion in overall growth capital over the next five years.
Green Party Canada Leader Elizabeth May, who was arrested protesting the pipeline expansion, called it "one of the worst deals in Canadian history".
"Canadian workers are becoming discouraged by the Prime Minister's efforts that have seen Northern Gateway vetoed, Energy East torpedoed by last minute rule changes, Petronas LNG withdrawn, and now has led Kinder Morgan to walk away from this project in Canada".
"Our Canadian employees and contractors have worked very hard to advance the project to this critical stage, and they will now resume work in executing this important Canadian project", said Kean.
Finance Minister Bill Morneau said purchasing the pipeline was the only way to ensure that a planned expansion could proceed.
Canada's Prime Minister Justin Trudeau spoke May 29 with Premier Horgan to confirm that the Government of Canada has reached a commercial agreement with Kinder Morgan "in order to secure the timely completion of the Trans Mountain Expansion Project".
A federal news release said the Alberta government could contribute up to C$2 billion through an emergency fund that would only come into play if required due to unforeseen circumstances, in return for which it would receive value commensurate to their contribution, through equity or profit sharing..
Construction on the 590,000-barrel-per-day expansion to the existing 300,000-bpd line, halted by Kinder Morgan in April, is to be restarted immediately in the wake of Tuesday's announcement of Ottawa's $4.5-billion purchase.
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Eventually, backup arrived and the SWAT team released chemical agents into the home to flush out Hill. On May 24, the verdict granted only $1 for funeral expenses and $1 for each of Hill's kids.
Notley also noted that Kinder Morgan has accumulated 16 victories in 16 federal and provincial court battles.
Now that the federal government has taken over, the expansion project will be protected from further delays.
"Today, we are no closer to building the Trans Mountain Pipeline expansion than we have for months". "TransCanada would have to apply and go through a regulatory process to have a pipeline approved". "I'm concerned there could be catastrophic consequences from a diluted bitumen spill, regardless of the owner of the pipeline", Horgan said.
"The reason for the Kinder sale was that it wasn't able to get the pipeline built", said Joseph Doucet, dean of the Alberta School of Business at the University of Alberta.
Kean said the Canadian government would help search for an alternative buyer. Indigenous groups said their concerns are being ignored.
Justin Trudeau would have Canadians believe that the only way to build the Trans Mountain pipeline is to use billions of taxpayer dollars.
By way of asserting its resolve to keep the project moving ahead, the government said it would provide funding for the 2018 construction season through loan guarantees.