Ottawa to buy Kinder Morgan pipeline in bid to save project: Reuters
Ottawa will buy Kinder Morgan Canada Ltd’s Trans Mountain pipeline for $4.5 billion in hopes of saving the project that faces formidable political and environmental opposition, Reuters reported. Finance Minister Bill Morneau said purchasing the pipeline was the only way to ensure that a planned expansion could go ahead. Ottawa backs plans to boost capacity of the line to a Vancouver-area port so Canadian crude gets greater access to foreign markets. Earlier this year, Caisse de dépôt et placement du Québec disclosed a 7.8 percent stake in Kinder Morgan Canada.
29 May 2018•3 mins read
