The struggle Trudeau could face if Kinder Morgan walks away from Trans Mountain
by Robert Tuttle & Michael Bellusci (feat. Dennis McConaghy)
Bloomberg News
May 18, 2018
Justin Trudeau’s pipeline nightmare may be only getting started.
As Kinder Morgan Inc. drives a hard bargain in Canada’s attempt to save the Houston-based company’s embattled Trans Mountain project, the prime minister could end up fighting for an asset that hardly anybody wants. Pipeline giant Enbridge Inc., for one, signaled it doesn’t.
Trudeau’s government upped the ante this week, with Finance Minister Bill Morneau pledging to indemnify the $7.4 billion project for politically motivated delays and backstop any company willing to take it on. Trudeau said “there are alternatives if Kinder Morgan” decides it wants out.
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