Global Markets: Feds to buy Trans Mountain pipeline

By Commodity News Service Canada
WINNIPEG, May 29, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
The Canadian government announced Tuesday that it will
buy Kinder Morgan Canada Ltd.’s Trans Mountain pipeline
project for C$4.5 billion. However the government doesn’t
intend to be the long-term owner of the project, which has
faced fierce environmental opposition. Canada will also
offer federal loan guarantees to ensure construction
continues through the 2018 season as part of the deal.

Crescent Point Energy announced Tuesday that Craig
Bryska is stepping in as interim president and CEO. Bryksa,
who was most recently VP of Engineering West for the
company, is taking over after Scott Saxberg’s abrupt exit
as director and CEO, a position which he held for 15 years.
Bryska has been with the company for 12 years.
Foreign Affairs Minister Chrystia Freeland will embark
on a two-day visit to Washington, DC starting Tuesday.
Freeland has been a fixture in the U.S. capital in recent
weeks, taking part in high-level North American Free Trade
Agreement negotiations. However Freeland’s office isn’t
saying if those talks are the main purpose of her visit
this time.

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