TC Energy and Coastal GasLink celebrate historic equity agreement with Indigenous partners

Coastal GasLink’s commitment started nearly 10 years ago, and since that time, they have worked together to identify a path towards mutually beneficial relationships with Indigenous and local communities. These relationships have led to the creation of unprecedented agreements of support from 20 Indigenous communities along Coastal GasLink’s project corridor. It is their honour to have Indigenous neighbours also be their business partners.

Coastal GasLink is proud to announce that TC Energy has signed option agreements to sell a 10% equity interest in Coastal GasLink. The opportunity was made available to all 20 Indigenous communities holding existing agreements with Coastal GasLink and is an important step on the path to true partnership through equity ownership in the project.

“The finalisation of the option agreements represents a historic milestone in our desire to participate as equity owners in Coastal GasLink. For many, this marks the first time that our Nations have been included as owners in a major natural resource project that is crossing our territories,” states Chief Corrina Leween of the Cheslatta Carrier Nation, and member of the CGL First Nations Limited Partnership Management Committee.

Coastal GasLink’s Indigenous partners have been instrumental in the construction of the company. Since construction began, Coastal GasLink have had hundreds of key roles held by local Indigenous people, and over CAN$1 billion in project contracts have been awarded to local Indigenous businesses. In 2021 alone, Coastal GasLink invested over CAN$550 000 in local Indigenous communities to support community initiatives, skills training and education.

“We want to be partners; we want to be involved in the lifecycle of the project from ground-breaking to reclamation. Having the option to get involved in equity opens up the opportunity to have a long-term economic benefit from a project that will be there for years,” said Chief Justin Napoleon of the Saulteau First Nations, and a member of the FN CGL Pipeline Limited Partnership.

Coastal GasLink looks forward to strengthening its Indigenous partnerships as they take these next steps together in building a lasting legacy founded on safety and respect for all people, communities and the environment.

Image from left to right: Chief Justin Napoleon, Indigenous Relations Director Tiffany Murray, Chief Corrina Leween and Coastal GasLink President Bevin Wirzba.

 

 

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Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/05042022/tc-energy-and-coastal-gaslink-celebrate-historic-equity-agreement-with-indigenous-partners/