Canada will buy Kinder Morgan Canada Ltd.’s Trans Mountain oil pipeline and its controversial expansion project for C$4.5 billion ($3.5 billion) in a bid to ensure it gets built amid fierce opposition.
Prime Minister Justin Trudeau plans to start talks with Kinder Morgan Inc. to backstop the Trans Mountain pipeline after failing to end a spat between Canadian provinces that put the vital project at risk.
Houston’s Kinder Morgan said Tuesday it successfully completed its initial public offering in Canada to raise $1.3 billion in support of its massive Trans Mountain pipeline expansion.
Energy regulators have recommended the approval of Kinder Morgan's $5.4billion Trans Mountain oil sands pipeline with the final decision now resting largely with Canada's Prime Minister Justin Trudeau.
