Ottawa 'unlikely' to see profit from Trans Mountain sale, budget watchdog tells committee

Giroux said federal officials will be hard-pressed to find a private buyer willing to pay a premium for the now-operational pipeline that cost the government more than $34B

OTTAWA — Parliamentary Budget Officer Yves Giroux said on Monday Ottawa is likely to lose money on its eventual sale of the Trans Mountain pipeline, after shelling out more than $34 billion to complete the project.

Giroux told members of a House of Commons committee studying the matter that federal officials will be hard-pressed to find a private buyer willing to pay a premium for the pipeline, which has been operational since May, even under an optimistic scenario where foreign demand for Canadian oil stays high.