
A ‘foot in the door’: BC First Nations buy into Enbridge pipeline
For decades, a natural gas pipeline has cut through the territories of dozens of First Nations in BC — moving billions of dollars’ worth of gas with zero ownership and little return to the communities.
Now, 36 First Nations have bought in.
“For decades, the nations have watched resources leave their communities with very minimal benefit,” said Justin Napoleon, from Saulteau First Nation and director of Stonlasec8, a newly formed, Indigenous-owned, limited partnership made up of 36 First Nations in BC, including Treaty 8 members.
In a landmark deal announced Thursday (May 15), Stonlasec8 revealed its plan to invest approximately $715 million to acquire a 12.5 per cent ownership in Enbridge Inc.’s Westcoast natural gas pipeline system that stretches from BC’s remote northeast to the US-Canada border.