One group — CGL First Nations Limited Partnership – includes 11 First Nations. That partnership was formed with the help of the First Nations Major Projects Coalition (FNMPC).
The FNMPC said in a news release that the option will be exercised after the pipeline is built and in service. The other group representing the remaining First Nations communities is the FN CGL Pipeline Limited Partnership.
TC has not said how much a 10% equity stake will cost the investors. Under agreement with LNG Canada, TC Energy was to build the CGL pipeline at a cost of C$6.6 billion. However, TC Energy has warned of “significant” cost increases to the project due to scope changes, permitting delays and covid-19 public health orders that affected the project’s workforce.
TC Energy said it would pass the increases onto the LNG Canada partners – something LNG Canada CEO Peter Zebedee has taken issue with.
The equity position that First…
