TC Energy says it has completed an investment deal giving five First Nations an economic interest connected to Coastal GasLink.
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TC Energy Corp. says it has completed an investment deal that gives five First Nations an economic interest in the Coastal GasLink pipeline.
The company said the agreement with the FN CGL Pipeline Limited Partnership provides the Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations and West Moberly First Nations with an economic interest in the entity that holds TC Energy’s limited partner interest in Coastal GasLink.
Financial terms of the deal were not immediately available.
The transaction is the first of two planned Indigenous investment transactions related to Coastal GasLink, according to TC Energy, with a second transaction expected to close in the fourth quarter of this year.
TC Energy also recently announced plans to double the existing capacity of the 670-kilometre Coastal GasLink pipeline by adding new compressor stations and upgrading facilities.
The company said the decision came after LNG Canada announced a final investment decision to proceed with Phase 2 expansion of its facility in Kitimat, B.C.
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