First Nations purchase ownership stake in Westcoast gas pipeline deal
B.C. natural gas giant, Enbridge, has struck a lucrative deal with 36 First Nations for ownership of its Westcoast gas pipeline.
B.C. natural gas giant, Enbridge, has struck a lucrative deal with 36 First Nations for ownership of its Westcoast gas pipeline.
On Thursday, Enbridge issued a statement announcing an investment of $715 million by 36 First Nations into Enbridge’s West Coast Gasoline in British Columbia.
A $400-million federal loan guarantee backs the sale of a 12.5 per cent stake in Enbridge's Westcoast natural gas pipeline to the Stonlasec8 Indigenous Alliance Limited Partnership. This coalition of communities with ties to the pipeline's land will purchase the stake in the 2,900-kilometre system, which transports gas from northeastern B.C. to the U.S. border.
