The feds are going to spend 4.5 billion dollars—to buy the CURRENT TransMountain pipeline—and related infrastructure belonging to Kinder Morgan. What that means–is that the expansion IS going to go through—beginning this summer. But Finance Minister Bill Morneau—says Ottawa is NOT looking to be a long term owner:
“Canada will work with investors–to transfer the project and related assets–to a new owner or owners— in a way that ensures that project’s construction and operation will proceed in a manner that protects the public interest. For Indigenous groups, we’ll make sure that existing profit sharing or other agreements established with Kinder Morgan remain in effect. Many investors have already expressed interest in the project–including Indigenous groups, Canadian pension funds and others. “
Alberta has also agreed to provide funding for any unexpected costs that may come up.