(Bloomberg) Project Reconciliation, a Canadian indigenous group seeking a stake in the Trans Mountain oil pipeline, is now aiming for a path to full ownership, the group’s new chairman said.
Project Reconciliation, a Canadian indigenous group seeking a stake in the Trans Mountain oil pipeline, is now aiming for a path to full ownership, the group s new chairman said.
(Bloomberg) Project Reconciliation, a Canadian indigenous group seeking a stake in the Trans Mountain oil pipeline, is now aiming for a path to full ownership, the group’s new chairman said.
“We are hopeful that we can get our position across,” Robert Morin, the group’s new chairman, said in a phone interview. The group has said it has funding lined up for the purchase, without revealing any lender.
Canada’s federal government bought Trans Mountain from Kinder Morgan Inc. for C$4.5 billion ($3.7 billion) in 2018 after the company threatened to scrap the line’s expansion amid fierce environmental opposition. Alberta’s oil sands industry badly needs more conduits to export its crude, and many hope that indigenous participation would help quell objections to the project.