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
- US Energy Regulator's Future Shaky as Senator Manchin Refuses Hearing
- TC Energy Hires Contractor to Lay 715-km Stretch of $4.5 Billion Offshore Gas Pipeline
- US Sells Oil from Emergency Reserve to Marathon, Equinor, Others
- Enbridge Approves $2.7 Billion Expansion of Southern B.C. Pipeline System
- Integrity's Newest Ally: PRCI’s Mechanical Damage Strategic Research Priority
- ESPO Pipeline Expansion Nears Completion, Asia-Pacific Counts for a Third of Russian Oil Shipments
- New Methane Fee Could Hit Pipelines Hard
- Equitrans Wants US Legislation to Help Finish Mountain Valley Gas Pipeline
- Snam to Invest $3.8 Billion in Italy's Gas Network, Including Proposed Adriatic Pipeline
- Sierra Club Says Mountain Valley Pipeline to Give Up on North Carolina Extension
Comments