"Historic milestone": BC First Nations acquire equity in Coastal GasLink

A historic agreement was signed last night in Vancouver giving First Nations along the Coastal GasLink pipeline corridor an ownership interest in the project.

TC Energy Corporation, the designer, builder, owner, and operator of Coastal GasLink, announced today that 16 Indigenous communities along the pipeline route have signed option agreements to acquire a 10% equity interest in the Northern BC project.

The Indigenous communities signing on to be business partners of Coastal Gaslink belong to two partnership groups: 11 First Nations belonging to CGL First Nations Limited Partnership and five First Nations that are part of the FN CGL Pipeline Limited Partnership.

(From Left to Right) Chief Justin Napoleon, Saulteau First Nations which is a member of the FN CGL Pipeline Limited Partnership; Tiffany Murray, Director of Indigenous Relations, Coastal GasLink; Chief Corrina Leween, Cheslatta Carrier Nation which is a member of the CGL First Nations Limited Partnership Management Committee; and Bevin Wirzba, Coastal GasLink President at the signing ceremony held at the Vancouver Convention Centre West on March 8, 2022./Submitted

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“The finalization of the Option Agreement represents a historic milestone in our desire to participate as equity owners in the Coastal GasLink,” said Chief Corrina Leween of the Cheslatta Carrier Nation, member of the CGLFN GP Inc Management Committee in a release. “Achieving this milestone would not have been possible without the capacity support provided by the First Nations Major Projects Coalition.

“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. This deal is important because it demonstrates the value First Nations can bring as true partners in major projects.”

Coastal GasLink/Submitted

François Poirier, TC Energy President and CEO, said that the agreement signed at the Vancouver Convention Centre is an important step in Coastal GasLink’s progress.

“We are proud to advance our relationships with the Indigenous communities across the route through equity ownership in Coastal GasLink,” said Poirer. “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.”

The construction of the Coastal GasLink project surpassed 50% completion milestone last fall and is targeting a 2023 finish date. The 670-km pipeline will stretch from Groundbirch in northeastern BC near Chetwynd, to Kitimat, where it will connect to LNG Canada’s liquefaction facility.

Coastal GasLink/Submitted

For Chief Justin Napoleon of Saulteau First Nations, a member of the FN CGL Pipeline Limited Partnership, the acquiring of the equity interest will help ensure that Indigenous communities have a voice throughout the lifespan of Coastal GasLink.

“For years we have watched industry and governments generate revenues from the operations of their projects, while we live with the impacts,” said Napoleon. “This investment in Coastal GasLink will finally start to shift the landscape, aligning industry and Indigenous peoples’ interests over the entire life cycle of a project.”

The equity option acquired by CGL First Nations Limited Partnership and FN CGL Pipeline Limited Partnership is exercisable after commercial service of the pipeline begins, subject to customary regulatory approvals and consents.