Backstop deal may be last hope for TransMountain pipeline, says former oil executive
by CBC News (feat. Dennis McConaghy)
May 17, 2018
The federal government's plan to financially backstop the TransMountain pipeline project may be the last, best option to salvage the proposal, says a former Alberta pipeline executive.
Ottawa announced Wednesday it would secure Kinder Morgan against losses related to political opposition to the project — just weeks ahead of the company's self-imposed drop-dead date.
The offer may be the only solution that can save the beleaguered project, said Dennis McConaghy, former executive vice-president of corporate development at TransCanada Corporation.