Kinder Morgan Inc Hands Over Its Controversial Trans Mountain Expansion Project to Canada

With an end-of-the-month deadline looming, Kinder Morgan (NYSE: KMI)and the Government of Canada struck a deal to keep the controversial Trans Mountain Pipeline expansion project alive after the pipeline giant agreed to sell the existing line and the planned expansion to Canada for 4.5 billion Canadian dollars ($3.

5 billion). The deal will enable Kinder Morgan to walk away from the controversial project while recouping some value for investors. Meanwhile, Canada gets more time to find a buyer for this crucial infrastructure project.