FORT ST. JOHN, B.C. - Four Northeast B.C. First Nations are among a group of Indigenous communities that have secured an ownership interest linked to the Coastal GasLink pipeline, a move expected to provide long-term financial benefits to their communities.
TC Energy announced it has completed an agreement with FN CGL Pipeline Limited Partnership, an Indigenous-led investment entity representing five First Nations along the Coastal GasLink corridor.
The partnership includes the Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations, and West Moberly First Nations in Northeast B.C., as well as the Haisla Nation on B.C.’s north coast.
Long-Term Benefits for Treaty 8 Communities
Through the agreement, the participating Nations will obtain an economic interest in the entity that holds TC Energy’s limited partner interest in Coastal GasLink.
The company says the communities are expected to benefit from long-term, predictable financial returns tied to the pipeline project.
“This agreement turns years of partnership into long-term economic opportunity and shared prosperity,” said Francois Poirier, President and CEO of TC Energy.
The investment partnership was created by the participating Nations to pursue the ownership opportunity
Indigenous Ownership Role Expands
Roland Wilson of West Moberly First Nations said the agreement reflects years of work by Indigenous communities to strengthen their role in major resource developments.
“Our participation in this transaction reflects years of work to build a stronger role for Indigenous Nations in Canada’s energy future,” said Willson. “This investment framework recognizes the importance of partnership, financial certainty and shared prosperity.”
The federal government also praised the deal, with Tim Hodson, Canada’s Minister of Energy and Natural Resources, describing Indigenous ownership as an important part of the country’s future energy development.
Direct Connection to Northeast B.C. Natural Gas
The announcement has particular significance for Northeast B.C. because Coastal GasLink transports natural gas from the region to the LNG Canada export facility in Kitimat.
The pipeline currently delivers 2.1 billion cubic feet of natural gas per day and serves as the link between Northeast B.C.’s natural gas fields and overseas LNG markets.
TC Energy says a second Indigenous investment transaction involving additional First Nations is expected to close later this year.
The company describes Coastal GasLink as Canada’s first direct pathway connecting Canadian natural gas supplies to global LNG export markets.