- Partner News
- Media Releases
- Mainstream News
Nov 14, 2022
Growing precedent in Canadian resource sector of Indigenous communities taking ownership equity in major projects
The announcement last week that TC Energy Corp. plans to sell $5 billion in assets next year has prompted speculation that Indigenous communities could scoop up ownership stakes in some portion of the company’s Alberta pipeline assets — a reflection of the growing shift in the energy sector’s approach to equity ownership in major projects.
The Calgary-based company said Wednesday it intends to sell individual assets or minority stakes in unspecified assets totalling $5 billion through 2023 as the pipeline giant seeks to deleverage and free up capital to fund future growth opportunities.
It’s not yet known which assets the company would prioritize for sale, but prior to last week’s announcement, some analysts had speculated the company could be inclined to sell off its 50 per cent stake in the 460-kilometre Grand Rapids pipeline connecting the oilsands to terminals in the Edmonton/Heartland region, as well as the smaller 72-kilometre White Spruce pipeline which feeds into Grand Rapids.
82 total views, 2 views today