Under the deal’s terms, the First Nations—whose territories neighbour LNG Canada’s facility in northwest British Columbia—could invest up to $1 billion to acquire a majority stake in the giant LNG storage tank planned for the facility’s expansion, if it goes ahead. If completed, it would rank among among the largest Indigenous ownership deals in Canada. (The Logic)

Talking point: The move is part of a broader shift in Indigenous groups increasingly seeking equity ownership in major projects, rather than benefit agreements. It follows transactions like Enbridge’s $1.12-billion sale of an 11.6 per cent stake in seven Alberta oilsands pipelines to a consortium of Indigenous communities, as well as Indigenous-led LNG projects such as Cedar LNG and the proposed Ksi Lisims LNG. Shell-led LNG Canada sits on the traditional territory of the Haisla Nation—one of the five nations involved in the deal through an investment partnership called MNT Investments LP. There were no details provided Tuesday on financing, including whether the deal would be supported by government-backed loan guarantees.