The federal government announced Tuesday it will purchase Kinder Morgan's Trans Mountain pipeline expansion project for $4.5 billion.
Here is a brief recap of today's highlights:
- The deal is expected to close in August, and includes related assets, such as the Westbridge Marine Terminal in Burnaby
- Not included are the costs to build the pipeline, originally pegged at $7.4 billion
- Kinder Morgan will work with the federal government until July 22 to find another buyer
- Government does not intend to hold the project longterm
- B.C. Premier John Horgan announced the news does not affect B.C.'s legal efforts related to the pipeline
- He added government ownership could lead to better discussions
- Alberta Premier Rachel Notley said it means B.C.'s efforts to "harass" the project will have less effect
- She said the pipeline's future has never looked so certain
