Follow Us! Like Our Page!

Closing celebrations take place for $103 million loan guarantee from Alberta Indigenous Opportunities Corporation, creating economic reconciliation in the province

Press Release

Five Indigenous communities purchase equity that will generate meaningful long-term income

A celebration event was held to commemorate the closing of the deal that will actualize the Access NGL Pipeline System (“Access NGL”) through a partnership between Alberta Indigenous Opportunities Corporation (“AIOC”), Wolf Midstream Canada LP (“Wolf”), and the Northern Lakeland Indigenous Alliance (“NLIA”).

Alberta Indigenous Opportunities Corporation has provided a $103 million loan guarantee for five Indigenous communities to acquire, collectively through a newly formed entity called Northern Lakeland Indigenous Alliance, approximately 43% interest in the Access NGL Pipeline System operated by Wolf Midstream Canada LP, a leading Canadian owner and operator of midstream energy infrastructure in Western Canada, which is backed by Canada Pension Plan Investment Board (CPP Investments).

In July 2023, Wolf successfully commissioned a proprietary, market-scale natural gas liquids (“NGL”) industrial system, NGL North. The Access NGL pipeline assets associated with this transaction connect Wolf’s newly constructed, owned and operated NGL recovery facility near Mariana Lake to its NGL separation facility in Sturgeon County. The underlying business is supported by long-term commercial arrangements with major NGL customers and a 25-year NGL transportation agreement that will generate stable and meaningful income for NLIA and their respective Indigenous communities.

The five communities and leadership participating in this deal are: Buffalo Lake Métis Settlement (Chairman Stan Delorme), Kikino Métis Settlement (Councillor Lee Thom), Heart Lake First Nation #469 (Chief Curtis Monias), Saddle Lake Cree Nation #125 (Chief Terry Cardinal) and Whitefish Lake First Nation #128 (Chief Stan Houle). This transaction will create a foundation of long-term shared prosperity, stable and predictable cash flow and equity ownership. Revenues could also be invested into underfunded projects.

Chana Martineau, CEO, AIOC

“We are proud of our role in such transformational transactions. AIOC’s loan guarantee program fills the gap in access to capital, which allows First Nations and Metis Communities to share in economic prosperity in Alberta. We are now beginning to see the results of the transactions of the past four years and could not be more pleased to see these meaningful revenues flow back to community. Congratulations to Wolf Midstream, the five communities and the financial, legal and advisory firms that came together to make this deal happen.”

Tony Bagga, President and Director of NLIA

“Indigenous equity ownership in major infrastructure projects demonstrates a commitment from both the industry and government toward economic reconciliation for Indigenous Peoples. For the First Nations and Métis Settlements participating in these partnerships, tangible improvements in their communities, as well as long-term economic stability and prosperity will be seen.”

The Honourable Danielle Smith, Premier of Alberta

“Our government is proud to have created AIOC as one more way to advance reconciliation. Through AIOC our government demonstrates its commitment to improving Indigenous communities’ well-being and economic growth. It is fantastic to see more partnerships, investment, and progress in Alberta’s energy industry and our province as a whole. I’m honoured to support this transformative endeavour.”

The Honourable Rick Wilson, Minister of Indigenous Relations for the Government of Alberta

“Our province is leading the way in economic reconciliation. Through AIOC’s commitment to offering opportunities for sustainable growth, they have provided over $500 million in loan guarantees to enable Indigenous equity investment in infrastructure projects. Their equity investments generate monthly financial returns. This builds a foundation for bigger and better opportunities for these communities.”

Bob Lock, President and CEO of Wolf

“Wolf is pleased to partner with the NLIA to invest in new critical NGL transmission infrastructure in Alberta. This investment reflects our company’s commitment to true reconciliation and a lower carbon future, and provides long-term benefits for these communities. This opportunity gives us the chance to build meaningful and lasting relationships with the communities where we operate.”

To date, AIOC, a provincial Crown Corporation, has provided $511 million in loan guarantees across five transactions, serving a total of 27 Indigenous communities. They exist to serve as a catalyst for Indigenous prosperity and independence through projects like the Access NGL pipeline and other initiatives in Alberta’s natural resources, agriculture, transportation, and telecommunications sectors.

-30-

For media inquiries, contact:
Evhan Hinz, Berlin Communications
ehinz@brln.ca
780-935-4022

IBF4

Loading

NationTalk Partners & Sponsors Learn More