Kinder Morgan Canada Limited (TSX: KML) Chairman and Chief Executive Officer Steve Kean issued the following statement in response to Federal Finance Minister Bill Morneau's press conference earlier today:

"We acknowledge the comments by Minister Morneau this morning and appreciate his acknowledgment of the uncertainty created by the BC Government's stated intentions to 'do whatever it takes to stop the Trans Mountain Expansion Project' and the 'exceptional political risk' this federally and provincially-approved project continues to face. We appreciate his recognition that a private company 'cannot resolve differences between governments.'

We remain steadfast in our previously stated principles: clarity on the path forward, particularly with respect to the ability to construct through British Columbia, and ensuring adequate protection of our KML shareholders. We take very seriously our commitment to the Canadian families, workers and retirees who have invested in this company.

While discussions are ongoing, we are not yet in alignment and will not negotiate in public. As we have stated, the May 31st deadline for these discussions is necessitated by approaching construction windows, the time required to mobilize contractors, and the need to commit significant new materials orders, among many other imperatives associated with such a large project."

Read the full news release here.