A partnership consisting of 36 First Nations in British Columbia, Canada, are investing CA$715 million (~US$511 million) in Enbridge Inc.’s Westcoast natural gas pipeline for a 12.5% stake.

Map of Enbridge's Westcoast pipeline in British Columbia, Canada. (Source: Enbridge)
Map of Enbridge's Westcoast pipeline in British Columbia, Canada. (Source: Enbridge)

The partnership, Stonlasec8 Indigenous Alliance LP, has secured a CA$400 million loan (~US$286 million) guarantee from Canada Indigenous Loan Guarantee Corp. (CILGC), a subsidiary of Canada Development Investment Corp., to fund the transaction.

Enbridge’s Westcoast pipeline, owned by Enbridge subsidiary Westcoast Energy Inc., has operated for over 65 years and is on traditional Indigenous land, said Chief David Jimmie, president and chair of Stonlasec8 and chief of Squiala First Nation.

The line stretches more than 2,900 km from Fort Nelson in northeast British Columbia to Gordondale near the Alberta border, and then south to Canada’s border with the U.S. It is capable of transporting 3.6 Bcf/d of natural gas.

Cynthia Hansen, Enbridge's executive vice president and president of gas transmission and midstream, said the deal helps to advance reconciliation between the company and Indigenous communities.

“Now, our Nations will receive sustained economic benefits from this asset, funding critical investments in housing, infrastructure, environmental stewardship and cultural preservation,” said Jimmie. “People often ask what economic reconciliation for Indigenous Peoples looks like. This is it."

The transaction is expected to close by the second quarter of 2025, subject to certain closing conditions.

RBC Capital Markets acted as financial adviser to Enbridge and McCarthy Tétrault served as legal counsel. TD Securities Inc. acted as financial adviser to Stonlasec8 and Boughton Law served as legal counsel and MNP as business and tax advisers.

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