Enbridge sells stake in Westcoast pipeline to First Nations group

The Canadian Press

· Posted: May 15, 2025 8:41 AM EDT | Last Updated: 10 minutes ago

Enbridge Inc. has signed a woody to merchantability a number involvement successful its Westcoast earthy state pipeline strategy to a radical of 36 First Nations successful B.C.

Under the agreement, the Stonlasec8 Indigenous Alliance Limited Partnership volition put $715 cardinal for a 12.5 per cent involvement successful the system.

The Westcoast earthy state pipeline system extends much than 2,900 kilometres from Fort Nelson successful northeast B.C. and from Gordondale adjacent the B.C.- Alberta border, southbound to the Canada -U.S. border.

Chief David Jimmie, president and seat of Stonlasec8 and main of Squiala First Nation, called the woody a important milestone.

"Enbridge's Westcoast pipeline strategy is simply a bequest plus that has operated wrong our accepted territories for implicit 65 years," Jimmie said successful statement.

"Now, our Nations volition person sustained economical benefits from this asset, backing captious investments successful housing, infrastructure, biology stewardship, and taste preservation. People often inquire what economical reconciliation for Indigenous Peoples looks like. This is it."

Enbridge main enforcement Greg Ebel said the statement is 1 of respective specified deals the institution has undertaken successful the past respective years arsenic it explores further opportunities for Indigenous partnerships.

"Enbridge's committedness to beforehand Indigenous ownership opportunities related to our existing and increasing vigor assets underlines our efforts to beryllium the archetypal prime spouse for the communities we serve," Ebel said successful a statement.

The First Nations concern has reached an statement with Canada Indigenous Loan Guarantee Corp., a subsidiary of Canada Development Investment Corp., to unafraid a $400-million indebtedness warrant to alteration the deal.

The transaction is expected to adjacent by the extremity of the 2nd 4th of 2025, taxable to financing and different conditions.

Last year, Enbridge Inc. and Six Nations Energy Development LP announced plans to make a monolithic upwind vigor task successful southeast Saskatchewan.

The Seven Stars Energy Project, located adjacent Weyburn, is slated to nutrient 200 megawatts of cleanable electricity, capable to substance much than 100,000 homes for a year.