TC Energy completes deal giving five First Nations an economic interest in Coastal GasLink
A second Indigenous investment transaction is expected to close in the fourth quarter.
TC Energy said on Tuesday it has completed an investment deal giving five First Nations an economic interest in the Coastal GasLink pipeline, The Canadian Press reported. Financial terms were not immediately available.
Under the agreement, the Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations and West Moberly First Nations obtained an economic interest in the entity holding TC Energy's limited partner interest in the pipeline.
The deal is the first of two planned Indigenous investment transactions related to Coastal GasLink.
TC Energy recently announced plans to double the capacity of the 670-kilometre pipeline, which feeds LNG Canada in Kitimat, after LNG Canada approved its Phase 2 expansion.
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