BURSTFive B.C. First Nations have secured an economic interest tied to the Coastal GasLink pipeline, positioning their communities to receive long-term financial returns from natural gas infrastructure.
TC Energy announced Oct. 13 that it has finalized an agreement with an Indigenous-led investment partnership representing five First Nations along the Coastal GasLink corridor: the Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations and West Moberly First Nation.
“This agreement turns years of partnership into long-term economic opportunity and shared prosperity,” said TC Energy president and CEO François Poirier.
The agreement gives the Nations an economic interest in the entity holding TC Energy’s limited partner interest in Coastal GasLink, with financial returns expected over the long term.
West Moberly First Nations Chief Roland Willson said the investment strengthens Indigenous participation in Canada’s energy industry.
“This investment framework recognizes the importance of partnership, financial certainty and shared prosperity, while supporting our communities’ ability to make decisions about our own economic future.”
The 670-kilometre Coastal GasLink pipeline currently delivers 2.1 billion cubic feet of natural gas daily from northeastern B.C. to LNG Canada’s export facility in Kitimat. A planned Phase 2 expansion is expected to nearly double its capacity.
For the Haisla Nation, the agreement adds another economic interest in pipeline infrastructure that will eventually supply its Cedar LNG project, a floating natural gas export facility under construction in Kitimat.
Cedar LNG is majority-owned by the Haisla Nation in partnership with Pembina Pipeline Corporation. A new connection branching off Coastal GasLink within the LNG Canada site in Kitimat is expected to enter service in 2028, with capacity to deliver up to 400 million cubic feet of natural gas daily to Cedar LNG.
The investment agreement does not give the other four Nations a stake in Cedar LNG.