Since last week’s announcement that 16 First Nations have signed an equity agreement with TC Energy, more information has come out.
That agreement will see the 16 Nations split a 10 percent equity stake in the TC-owned Coastal GasLink pipeline.
Among the Nations who signed on to the agreement are the elected councils of the Haisla, Kitselas, Wet’suwet’en, Witset, and Cheslatta First Nations, and the Burns Lake Band.
Nations who joined the agreement did so as part of two similarly named groups: the First Nations CGL Pipeline Limited Partnership, representing 11 Nations, and the CGL First Nations Limited Partnership, representing 5.
All 16 of the Nations come from the 20 who signed initial agreements with CGL, which still stand.
Each of those 20 Nations will have a chance to opt in to the equity agreement at any point, as it is structured to provide each willing Nation with 1/20th of the deal.
That 10 percent equity share comes from TC Energy’s 35 percent stake in the project.
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