May 29, 2018 / 1:24 PM / 2 years ago

BUZZ-Kinder Morgan jumps as government confirms pipeline buy

** Pipeline operator’s shares up 3.2 pct at $16.40 premarket

** KMI’s Canada unit, Kinder Morgan Canada, to sell its Trans Mountain pipeline system to the Canadian government for C$4.5 bln ($3.46 bln)

** Canadian government will also fund resumption of an expansion project that Kinder Morgan halted in April due to permitting delays and political opposition in British Columbia

** The expansion, which will take crude from Alberta’s oil sands to a facility in the Pacific province of British Columbia, is also opposed by environmental groups and some aboriginal groups

** The government will also seek a third party buyer for the system through July 22, KML says

** The deal is expected to close in the latter half of this year, KML says ($1 = C$1.301) (Reporting by Yashaswini Swamynathan in Bengaluru)

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