OTTAWA—The Texas-based oil firm threatening to kill its planned expansion of an Alberta-B.C. pipeline reacted coolly to Ottawa’s offer Wednesday to compensate the company for any financial losses due to political opposition of the B.C. government.

But Steve Kean, chairman and CEO of Kinder Morgan, owner of the controversial project, did not rule out the possibility of reaching an agreement by the company’s May 31 deadline.

“While discussions are ongoing, we are not yet in alignment and will not negotiate in public,” Kean said. He said the company is still determined to secure “clarity” for its construction plans along with “adequate protection” for its shareholders.

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