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

The Stonlasec8 Indigenous Alliance's investment marks the first major deal under Canada's Indigenous Loan Guarantee Program, with financial close expected by late June 2025.

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.
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The Enbridge logo on the company's office building in downtown Edmonton. The Calgary-based company has signed a deal to sell a minority stake in its Westcoast natural gas pipeline system to a consortium of 36 B.C. First Nations.
Chief David Jimmie, CEO of the Squiala First Nation and the chair of the Western Indigenous Pipeline Group, poses for a photo outside of the longhouse in Squiala First Nation (Chilliwack), British Columbia, on November 20, 2023. (Jennifer Gauthier/The Globe and Mail)

Overview

  • Stonlasec8 Indigenous Alliance, representing 36 First Nations in British Columbia, has signed a binding agreement to acquire a 12.5% equity interest in Enbridge's Westcoast natural gas pipeline system for CAD$715 million.
  • The federal government is supporting the transaction with a CAD$400 million loan guarantee through the Canada Indigenous Loan Guarantee Corporation, facilitating Indigenous participation in major infrastructure projects.
  • The Westcoast pipeline spans over 2,900 kilometers, transporting natural gas from Fort Nelson in northern B.C. to the Canada–U.S. border, and has operated for more than 65 years.
  • The deal is expected to close by the end of the second quarter of 2025, pending financing and customary closing conditions, enabling First Nations to begin receiving long-term economic benefits.
  • The investment is set to fund critical community initiatives, including housing, infrastructure, environmental stewardship, and cultural preservation, advancing Indigenous economic reconciliation.