Five First Nations gain economic interest in Coastal GasLink

TC Energy announced on October 13 the closing of an investment agreement with FN CGL Pipeline Limited Partnership, which represents five First Nations. Through the agreement, Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations and West Moberly First Nations will obtain an economic interest in the entity holding TC Energy’s limited-partner interest in the Coastal GasLink gas pipeline. The company expects long-term, predictable financial returns for the communities; it did not disclose the interest percentage or transaction value.

This is the first of two planned Indigenous investment transactions related to Coastal GasLink. TC Energy expects a second transaction involving additional First Nations to close in the fourth quarter of 2026. The company says the 670-kilometre pipeline carries 2.1 billion cubic feet of gas per day from northeastern British Columbia to LNG Canada in Kitimat; capacity is separately expected to nearly double with Phase 2.