Five B.C. First Nations secure stake in Coastal GasLink

Five British Columbia First Nations have secured an economic interest in the Coastal GasLink pipeline through an Indigenous-led investment partnership known as FN CGL Pipeline Limited Partnership. The agreement, finalized by TC Energy, provides the Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations, and West Moberly First Nation with long-term financial returns from the natural gas infrastructure.

Reports indicate the Nations invested approximately $65.3 million of their own capital into the deal, without government loan guarantees. The partnership holds an economic interest in the entity that owns TC Energy’s limited partner interest in the 670-kilometre pipeline. Together, the group and TC Energy hold an indirect 35 per cent interest in the project.

The Coastal GasLink pipeline currently transports 2.1 billion cubic feet of natural gas daily to the LNG Canada export facility in Kitimat. For the Haisla Nation, this investment also links to the Cedar LNG project, a floating export facility currently under construction. TC Energy noted that a second Indigenous investment transaction related to Coastal GasLink is expected to close in the fourth quarter of 2026.