Kinder Morgan Looking To Dump Remaining Assets And Leave Canada For Good

Thanks to pipeline controversy in Canada Kinder Morgan hinted they may dump their remaining Canadian assets and leave Canada.

The company owns facilities in Edmonton and Vancouver along with some crude storage tanks, Kinder Morgan also owns the Cochin pipeline system along with the Jet Fuel pipeline system.

The company CEO Steve Kean said their only purpose to keep their Canadian assets was to build the Kinder Morgan pipeline expansion.

“It’s a set of midstream assets in what we think is an attractive seller’s market for those assets,” he said. “We are going to explore that over the coming months.”

“We can always say no, because the assets themselves will stand on their own,” Kean said.

The Canadian government purchased $4.5 billion worth of Kinder Morgan assets after they got caught in a lie that there’s investors lined up.

The company is based in the United States where oil and pipeline markets are more attractive than those in Canada.

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Emmy Skylar

About the Author: Emmy Skylar

Emmy Skylar started working for Debate Report in 2017. Emmy grew up in a small town in northern Manitoba. But moved to Ontario for university. Before joining Debate Report, Emmy briefly worked as a freelance journalist for CBC News.  She covers politics and the economy.

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