• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Canada to buy Kinder Morgan’s Trans Mountain pipeline

May 29, 20187:49 AM Reuters0 Comments

The Canadian government said onTuesday it will buy Kinder Morgan Canada Ltd's TransMountain pipeline project for C$4.5 billion but does not intendto be the long-term owner of the project, which has faced fierceenvironmental opposition.

Canada will also offer federal loan guarantees to ensureconstruction continues through the 2018 season as part of thedeal with the company, a unit of Houston-based Kinder Morgan Inc .

"The federal government has reached an agreement with KinderMorgan to purchase the existing Trans Mountain pipeline, andinfrastructure related to the Trans Mountain expansion project,"Finance Minister Bill Morneau told reporters.

"So our message today is simple: when we are faced with anexceptional situation that puts jobs at risk, that puts ourinternational reputation on the line, our government is preparedto take action," he said.

The company had set a May 31 deadline to decide if it wouldproceed with the expanded line from Edmonton, Alberta, to a portin the Vancouver area, which would give landlocked Canadiancrude greater access to foreign markets.

Kinder Morgan set the deadline in part due to frustrationswith delays caused by the British Columbia government, which isconcerned about possible oil spills.

(Reporting by David LjunggrenEditing by Jeffrey Benkoe)

Kinder Morgan Trans Mountain Pipeline

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Saudi plays short and long game with OPEC+ production gamble: Bousso
  • Oil eases as traders assess US tariffs, OPEC+ output hike
  • Venture Global cashes in on exports from Plaquemines LNG plant, SEC filing shows
  • Journey Energy Inc. Provides Encouraging Results from Its First Three 2025 Duvernay Wells
  • US proposes rules that could boost oil, gas output in US West

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.