TC Energy Offers 10% Stake in Coastal Gaslink Project to Indigenous Groups
(Reuters) - TC Energy Corp. said it signed an option agreement to sell 10% stake in Coastal GasLink to Indigenous communities, in an attempt to give more authority to the groups who traditionally held the land for the pipeline project.
The project has faced demonstrations and opposition from environmentalists and some First Nations for several years. Some of the groups say the project will trespass over their traditional lands.
In February, the pipeline work camp was attacked by what police described as assailants brandishing axes threatening workers and damaging equipment.
Calgary, Alberta-based pipeline operator TC Energy said the stake sale option was available to all 20 First Nations holding existing agreements with Coastal GasLink.
"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," said Chief Corrina Leween of the Cheslatta Carrier Nation, a First Nations group, and a committee member.
Coastal GasLink, owned by private equity firm KKR & Co. Inc., Alberta Investment Management Corp. and TC Energy, is a 670-km (420-mile) pipeline to the west coast of British Columbia to supply LNG.
Related News
Related News

- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Canada’s Canceled Oil Pipelines: The Projects That Didn’t Make It
- Diversified Energy Closes $42 Million Summit Natural Resources Acquisition
- New Alternatives for Noise Reduction in Gas Pipelines
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Enbridge Plans $2 Billion Upgrade for North America’s Largest Crude Pipeline
- South Dakota Governor Signs Bill Banning Eminent Domain for Carbon Pipeline
- Woodside May Delay Final Investment Decision on Louisiana LNG to Q2, CEO Says
Comments