Enbridge to sell stake in B.C. pipeline to Indigenous groups
- Enbridge Inc. Announced an agreement with the Stonlasec8 Indigenous Alliance Limited Partnership for a CAD$715 million investment in its Westcoast natural gas pipeline system, giving the partnership a 12.5% interest in the system, subject to closing conditions.
- The First Nations Partnership secured a CAD$400 million loan guarantee from Canada Indigenous Loan Guarantee Corporation to facilitate the transaction.
- Enbridge stated that this deal enhances relationships with Indigenous communities and contributes to reconciliation efforts.
- The government is recognized for its support in making this significant milestone possible for the Stonlasec8 First Nations.
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A 'foot in the door’: BC First Nations buy into Enbridge pipeline
For decades, a natural gas pipeline has cut through the territories of dozens of First Nations in BC — moving billions of dollars’ worth of gas with zero ownership and little return to the communities. Now, 36 First Nations have bought in.
·Canada
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Leaning Left13Leaning Right3Center4Last UpdatedBias Distribution65% Left
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