Trans Mountain to Sell 30% to Indigenous Groups, Premier Says

Canada’s federal government is looking to sell a 30% stake in the newly expanded Trans Mountain pipeline system to indigenous owners, Alberta’s premier said.

Most debt on the government-owned oil pipeline system can be financed through tolls charged to companies that ship on the line, Premier Danielle Smith said at a press conference in Calgary. The equity the government will need to raise to get the system into private hands was C$10 billion ($7.3 billion) as of “a few months ago,” she said.