海角吃瓜网

The Canadian government will provide the groups with access to capital so they do not have to risk any of their own money to participate, according to the report, citing a letter from Finance Minister Chrystia Freeland's office, dated 2 August.

The communities' equity interest in Trans Mountain will provide them with cash flows and allow them to jointly exercise governing rights, the report added.

Indigenous groups that take part in the special purpose vehicle will not be excluded from participating in later rounds offering additional equity in the pipeline and the government will soon begin discussions with the groups along the pipelines route and shipping corridor, the report said.

Freeland's office and Trans Mountain did not immediately respond to a Reuters request for comment on the report.

Prime Minister Justin Trudeau's Liberal government bought the Trans Mountain pipeline in 2018 from Kinder Morgan Inc to ensure the expansion project got built and provided a CAN$10 billion loan guarantee to TMC.

But the project has been hampered by regulatory obstacles, environmental opposition, and construction delays, and is now anticipated to cost CAN$30.9 billion (US$23.02 billion), more than quadrupling the CAN$7.4 billion budgeted in 2017.

Read the latest issue of World 海角吃瓜网 magazine for pipeline news, project stories, industry insight and technical articles.

World 海角吃瓜网’ August 2023 issue

The August 2023 issue of World 海角吃瓜网 includes a contractors’ focus, a keynote section on pipeline project management, and articles on construction best practice. We also cover inline inspection tools, pipeline services and surface preparation.

Read the article online at: /project-news/09082023/canada-looks-to-sell-trans-mountain-pipeline-stake-to-indigenous-groups/