LNG Canada offers five First Nations option to invest up to C$1 billion in Phase 2 storage tank
The deal would give the five nations majority ownership in a tank that could help finance LNG Canada’s Phase 2 expansion.
- On Tuesday, five First Nations—the Haisla First Nation, Gitxaala First Nation, Gitga, Kitselas First Nation, and Kitsumkalum—secured an option for a majority stake in a new LNG storage tank contingent on LNG Canada's Phase 2 expansion in Kitimat, British Columbia.
- LNG Canada is weighing a final investment decision later this year for its Phase 2 expansion, which could double the Kitimat facility's export capacity to 30 million metric tons annually.
- Participating nations formed MNT Investments LP to finance the potential stake, which could cost up to $1 billion through a loan backed by long-term tank leasing revenue.
- Haisla First Nation chief councillor Maureen Nyce said the agreement marks a "defining point" in history where Indigenous equity in major energy infrastructure becomes the norm rather than the exception.
- Environmental groups including the David Suzuki Foundation criticize the expansion, citing concerns over excessive flaring and fossil fuel reliance as the nations explore Indigenous loan guarantee programs for financing.
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33 Articles
5 First Nations ink deal for ownership stake in part of LNG Canada Phase 2 - Creston Valley Advance
LNG Canada is offering a group of five B.C. First Nations, the opportunity to invest in a $1 billion liquefied natural gas storage tank that would be built as part of the facility’s Phase 2 expansion. The First Nations, through the MNT Investments limited partnership, will be able to invest in the project by purchasing the giant 225,000-square-metre storage tank — which would be the largest in Canada — and leasing it back to LNG Canada for the o…
5 First Nations ink deal for ownership stake in part of LNG Canada Phase 2 - Grand Forks Gazette
LNG Canada is offering a group of five B.C. First Nations, the opportunity to invest in a $1 billion liquefied natural gas storage tank that would be built as part of the facility’s Phase 2 expansion. The First Nations, through the MNT Investments limited partnership, will be able to invest in the project by purchasing the giant 225,000-square-metre storage tank — which would be the largest in Canada — and leasing it back to LNG Canada for the o…
Penticton Western News
5 First Nations ink deal for ownership stake in part of LNG Canada Phase 2
LNG Canada is offering a group of five B.C. First Nations, the opportunity to invest in a $1 billion liquefied natural gas storage tank that would be built as part of the facility’s Phase 2 expansion. The First Nations, through the MNT Investments limited partnership, will be able to invest in the project by purchasing the giant 225,000-square-metre storage tank — which would be the largest in Canada — and leasing it back to LNG Canada for the o…
The Toronto Star
LNG Canada equity option agreement with five First Nations
KITIMAT - LNG Canada has reached an agreement with five neighbouring First Nations in northern B.C. that would provide them an option to invest up to $1-billion in the project's
LNG Canada offers five First Nations option to invest up to C$1 billion in Phase 2 storage tank
LNG Canada said on Tuesday five First Nations will have an equity option to invest up to C$1 billion ($710.78 million) to acquire a storage tank planned to be built in a proposed expansion of the country's first major LNG export facility.
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