Alberta Premier Says Province Likely to Buy Trans Mountain Stake
(Bloomberg) -- 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 $3.5 billion purchase of the pipeline, promising to contribute as much as C$2 billion ($1.5 billion) to help cover unexpected costs.
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