Alberta Premier expects the province will buy Trans Mountain pipeline stake
Published by Lydia Woellwarth,
Editor
World Pipelines,
Bloomberg is reporting that Alberta Premier Rachel Notley said the province is likely to take a stake in the Trans Mountain pipeline, which is being purchased by Canada’s federal government in an effort to make sure that the key conduit’s expansion moves forward.
“There is a good possibility that we’ll end up with a small equity stake,” Notley said at a press conference in Calgary on Monday. She declined to provide more details on the size or timing of the purchase.
Alberta had previously said it would consider buying a stake in the project to make sure it got built after Kinder Morgan Inc. had threatened to abandon it amid opposition from British Columbia. The oil-producing province also played a role in the federal government’s US$3.5 billion purchase of the pipeline, promising to contribute as much as CAN$2 billion (US$1.5 billion) to help cover unexpected costs.
Read the article online at: https://www.worldpipelines.com/business-news/10072018/alberta-premier-expects-the-province-will-buy-trans-mountain-pipeline-stake/
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