Indigenous groups sign historic equity option agreements with TC Energy on Coastal GasLink
Delivering a world-class project that will provide economic benefits for Indigenous communities, British Columbians and Canadians for decades to come has been a priority since day one. Our commitment started nearly 10 years ago, and since that time, we have worked together to identify a path towards mutually beneficial relationships. These relationships have led to the creation of unprecedented agreements of support from all 20 Indigenous communities along our project corridor. Thanks to the collaboration with our Indigenous partners, we have worked together for outcomes that are better for both communities and the project, and it is an honour to have our Indigenous neighbours as business partners.
We are proud to announce that TC Energy has signed option agreements to sell a 10 per cent equity interest in Coastal GasLink to the CGL First Nations Limited Partnership (CGL FNLP) and the FN CGL Pipeline Limited Partnership. The opportunity was made available to all 20 Indigenous communities holding existing agreements with Coastal GasLink and is an important step on the path to true partnership through equity ownership in the Project.
“The finalization of the option agreement represents a historic milestone in our desire to participate as equity owners in the Coastal GasLink Pipeline. For many of us, this marks the first time that our Nations have been included as owners in a major natural resource project that is crossing our territories,” states Chief Corrina Leween, Cheslatta Carrier Nation which is a member of the CGL First Nations Limited Partnership Management Committee.
Throughout the project, we have had thousands of meaningful interactions and engagements with Indigenous people that help guide the decisions we make every day, including consultation efforts that began before the Final Investment Decision in October 2018. We learned, listened and incorporated feedback where possible to accommodate for historical and culturally significant areas.
Chief Justin Napoleon
Saulteau First Nations, which is a member of the FN CGL Pipeline Limited Partnership
“This is about the communities. It’s about being able to have employment opportunities and benefits to the community, as well as ensuring we develop this project in a responsible way,” adds Indigenous Relations Director Tiffany Murray.
Indigenous people have been instrumental in the construction of Coastal GasLink. Since construction began, hundreds of key roles have been held by local Indigenous people, and over $1 billion in contracts have been awarded to local Indigenous businesses on the project. In 2021 alone, we invested over $550,000 in local Indigenous communities to support community initiatives, skills training and education.
“We are proud to advance our relationships with the Indigenous communities across the route through equity ownership in Coastal GasLink. Together, as business partners, we have the opportunity to learn, grow and change the way energy is developed in Canada. This is one of the ways we can advance reconciliation,” shares Francois Poirier, President and Chief Executive Officer, TC Energy.
