A U.S. national security review has given a green light to the Canadian government's planned purchase of Kinder Morgan's Trans Mountain pipeline project, moving the transaction one step closer to completion. A spokesperson for Finance Minister Bill Morneau's office confirmed to CBC News Friday that CFIUS had approved the planned purchase. "The Trans Mountain expansion is in the national interest and it must be built." The Trans Mountain expansion will build a new pipeline roughly parallel to the existing, 1,150-kilometre line that carries refined and unrefined oil products from the Edmonton area to Burnaby, B.C. Trans Mountain is the only pipeline carrying Alberta crude to the West Coast, and the hope is that most of the oil will end up in tankers bound for Asia.

Source: CBC News August 17, 2018 21:01 UTC