Stonlasec8, a partnership of 36 First Nations, agreed to invest $715 million for a 12.5 per cent interest in Enbridge’s Westcoast natural gas pipeline system. The pipeline system has operated on the traditional Indigenous territories for decades. (The Logic)
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Stonlasec8, a partnership of 36 First Nations, agreed to invest $715 million for a 12.5 per cent interest in Enbridge’s Westcoast natural gas pipeline system. The pipeline system has operated on the traditional Indigenous territories for decades. (The Logic)
Talking point: If completed, the deal will be the first of its kind to be approved under the Canadian Indigenous Loan Guarantee Program that Ottawa announced last spring. The program has agreed to provide a $400-million loan guarantee to the First Nations group. With this deal, Stonlasec8 president and Squiala First Nation Chief David Jimmie says communities expect to start seeing sustained economic benefits. Ottawa’s new Natural Resources Minister Tim Hodgson, who praised the deal, has been tasked with making Canada an energy superpower without sacrificing environmental checks or Indigenous rights.
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