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It seems that Canadian taxpayers will soon become the sole owners of a $ 4.5 billion pipeline system that has become a puzzle for the government of Justin Trudeau
Last May , the federal government announced that it would purchase Kinder Morgan's Trans Mountain Pipeline, which transports diluted bitumen from Alberta to a port in Burnaby, BC
Kinder Morgan Canada, a subsidiary of Kinder Morgan Inc ., Texas, was frustrated by the pipeline protests. The protests lasted nearly a decade and have intensified in recent years. Finance Minister Bill Morneau and Minister of Natural Resources Jim Carr announced that the Liberal government intended to purchase the Trans Mountain Pipeline System, including the expansion of its pipeline to Burnaby.
With this announcement, Ottawa hoped to find a private sector partner willing to enter into the deal with the Canadian government. The deadline to find such a buyer was yesterday (July 22).
The Trudeau government argues that it does not intend to operate the pipeline in the long run, according to the Canadian Press.
"We have no interest in being a long-term owner of a pipeline. but we will be the temporary guardian, "said a spokesman for the Department of Finance at CP. We will not rush on it.
The Trans Mountain Project involves twinning a pipeline from Edmonton, where it receives diluted bitumen from the Alberta oil sands, to a port in Burnaby. Once completed, it would triple the amount of bitumen transported to the Lower Mainland, increasing the number of tankers from about 60 ships per year to over 400 in Burrard Inlet.
Once the Ottawa purchase is complete, will see Kinder Morgan Canada sell the Trans Mountain pipeline to a state-owned company. It is tentatively scheduled to close before the end of August.
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