Canadian government to buy Kinder Morgan’s Trans Mountain pipeline

The Canadian government said on Tuesday it will buy Kinder Morgan Canada Ltd’s (KML.TO) Trans Mountain pipeline project for C$4.5 billion (2.6 billion pounds) but does not intend to be the long-term owner of the project, which has faced fierce environmental opposition. Finance Minister Bill Morneau said that buying the existing pipeline and its planned expansion project, which will carry crude oil from landlocked Alberta to a port in the Vancouver area, is the only way to ensure the halted project gets built. The government will also offer federal loan guarantees to ensure construction continues through the 2018 …read more

Source:: Yahoo Finance


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