Trans Mountain says it’s pleased to receive B.C.’s support and approval for expansion
KINDER Morgan Canada on Wednesday welcomed the B.C. government’s announcement that the Trans Mountain Expansion Project has received its environmental certificate from the Environmental Assessment Office, subject to 37 conditions, and has met the Requirements for British Columbia to Consider Support for Heavy Oil Pipelines (B.C.’s 5 Conditions). The provincial certificate is another important milestone needed for the project following the National Energy Board and Government of Canada’s recent approval of it.
“Trans Mountain shares the values and priorities of safety, environmental protection and prosperity for communities that B.C.’s 5 Conditions represent. The Province has been clear from the very beginning and today’s announcement is the culmination of many years of work to demonstrate to British Columbians that our Project meets both the regulatory requirements and the B.C. Government’s Conditions to move forward,” said Ian Anderson, President of Kinder Morgan Canada. “We believe this represents a positive outcome for our company, customers and for British Columbians and all Canadians who will benefit from the construction and operation of an expanded pipeline.”
In a negotiated commitment, Trans Mountain has agreed to contribute a minimum of $25 million to a maximum of $50 million each year depending on shipments in excess of contracted volumes, over the 20-year life of the Project. Proceeds will be dedicated to a newly formed B.C. Clean Communities Program to be accessed by communities for local projects that protect, sustain and restore B.C.’s natural and coastal environments.
Trans Mountain has also committed to a “British Columbians first” policy for hiring and contracting work within B.C., giving qualified and competitive B.C. companies the first opportunity at the jobs building, operating and maintaining the pipeline system. The project is expected to generate a total of more than 800,000 person years of employment over its life, including an anticipated workforce of the equivalent of more than 15,000 jobs per year during construction each year between 2017 and 2019.
In addition to contribution to the B.C. Clean Communities Program, the project is delivering to British Columbians over 20 years:
· $5.7 billion to the Province of British Columbia in economic contributions from project development, operations, higher netbacks and increased investment in BC’s oil and gas industry
· More than doubling local government taxes along the pipeline, including more than an additional $23.2 million each year to communities in B.C.
· Agreements with 51 Aboriginal communities (41 communities in B.C. worth more than $350 million)
The next steps will include a final investment decision by the Kinder Morgan Board of Directors. Trans Mountain is planning to begin construction in September 2017, with an in-service date for the twinned pipeline system expected in late 2019.
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