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yesterday

B.C. First Nations Secure $715M Equity Stake in Enbridge Westcoast Pipeline

The landmark agreement, backed by Canada’s Indigenous Loan Guarantee Program, marks a major step in economic reconciliation and Indigenous ownership of critical energy infrastructure.

Enbridge Inc. has signed a deal to sell a minority stake in its Westcoast natural gas pipeline system to a group of 36 First Nations in B.C.

Overview

  • Stonlasec8, a partnership of 36 British Columbia First Nations, has signed an agreement to acquire a 12.5% stake in Enbridge’s Westcoast natural gas pipeline for CAD$715 million.
  • The deal includes a CAD$400 million loan guarantee from the Canadian Indigenous Loan Guarantee Program, a federal initiative launched in 2024 to support Indigenous equity in large-scale projects.
  • This investment will be the first major project to utilize the Indigenous Loan Guarantee Program upon its expected closure by the end of Q2 2025.
  • The pipeline, operating for over 65 years on traditional Indigenous territories, will now provide sustained economic benefits to First Nations, including funding for housing, infrastructure, and cultural preservation.
  • Government and industry leaders, including Finance Minister François-Philippe Champagne, have hailed the agreement as a milestone in advancing Indigenous economic reconciliation and shared governance.