TC Energy signs deal to sell minority stake in pipeline to Indigenous groups – Construct Connect
August 1, 2024
CALGARY, ALTA. — TC Energy Corp. is selling a minority stake in its Western Canadian natural gas transmission network to a consortium of Indigenous communities for $1 billion.
The Calgary-based pipeline company said the deal will enable 72 Indigenous communities to take a 5.34 per cent stake in its Nova Gas transmission system and Foothills pipeline assets, which together comprise a 25,000-kilometre network of natural gas infrastructure assets spanning Western Canada.
The deal is backed by the Alberta Indigenous Opportunities Corp. (AIOC) and negotiated by a consortium committee representing Indigenous communities across Alberta, British Columbia and Saskatchewan.
