Deals

Canada to Miss Deadline for Quickly Reselling Trans Mountain Pipeline

Kinder Morgan agreed to work with government until July 22
A dozen potential buyers remain for pipeline to Pacific coast

A contractor works at the Kinder Morgan Inc. Trans Mountain pipeline expansion site in Burnaby, British Columbia, Canada, on April 11, 2018. — A contractor works at the Kinder Morgan Inc. Trans Mountain pipeline expansion site in Burnaby, British Columbia, Canada, on April 11, 2018.
Photographer: Ben Nelms/Bloomberg

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By Josh Wingrove, Scott Deveau, and Kevin Orland

July 20, 2018 at 4:19 PM UTC

Updated on

July 20, 2018 at 5:31 PM UTC

This article is for subscribers only.

About a dozen parties are interested in the Trans Mountain oil pipeline, but the Canadian government won’t reach a deal to flip it before a marketing deadline with Kinder Morgan Inc. closes Sunday, according to people familiar with the situation.

The government’s C$4.5 billion ($3.4 billion) purchase of the pipeline and expansion project gave it to July 22 to co-market the pipeline with an eye to selling it to a third party. A quick sale would have effectively allowed the government to substitute in another buyer for the current deal to be finalized.