Understanding Coastal GasLink’s deal with 16 BC First Nations – The Narwhal

The announcement distances Alberta-based energy giant TC Energy from the pipeline project, which has been contentious since it was first proposed in 2012 and the centre of controversy and conflict since construction began in 2019

TC Energy signed equity agreements with 16 B.C. First Nations that will provide the communities with a shared 10 per cent ownership stake in the Coastal GasLink pipeline — if the project is completed.

The agreements were signed between the pipeline company and two First Nations coalitions — CGL First Nations Limited Partnership and FN CGL Pipeline Limited Partnership. Both groups represent communities along the pipeline route that had already signed benefit agreements with the company and corresponding agreements with the province.

Read More: https://thenarwhal.ca/coastal-gaslink-first-nations-sale/