Enbridge Inc. announced today a groundbreaking agreement granting a significant equity stake in its Westcoast natural gas pipeline system to a coalition of 36 First Nations in British Columbia. The Stonlasec8 Indigenous Alliance Limited Partnership (First Nations Partnership) will acquire a 12.5% ownership interest in the critical energy infrastructure for approximately CAD$715 million.

To facilitate this substantial investment, the First Nations Partnership secured a CAD$400 million loan guarantee from the Canada Indigenous Loan Guarantee Corporation (CILGC), a subsidiary of the Canada Development Investment Corporation (CDEV). Loan guarantees are increasingly recognized as vital instruments in empowering Indigenous communities to become owners in essential energy infrastructure projects across the nation.

Cynthia Hansen, Enbridge's Executive Vice President and President of Gas Transmission and Midstream, emphasized the significance of the agreement, stating, "Enbridge's Westcoast natural gas pipeline system is a critical piece of energy infrastructure that has been providing people with the energy they need for more than 65 years. This transaction provides an opportunity to build on our existing relationships with Indigenous communities and help advance reconciliation."

Chief David Jimmie, President and Chair of Stonlasec8 and Chief of Squiala First Nation, hailed the agreement as a pivotal moment. "Today is a significant milestone for Stonlasec8 First Nations and we are incredibly grateful to have the Government of Canada's leadership and support to bring this deal to fruition," he said. "Enbridge's Westcoast pipeline system is a legacy asset that has operated within our traditional territories for over 65 years. Now, our Nations will receive sustained economic benefits from this asset, funding critical investments in housing, infrastructure, environmental stewardship, and cultural preservation. People often ask what economic reconciliation for Indigenous Peoples looks like. This is it."

Greg Ebel, Enbridge's President and CEO, underscored the company's commitment to Indigenous partnerships. "Enbridge's commitment to advance Indigenous ownership opportunities related to our existing and growing energy assets underlines our efforts to be the First Choice partner for the communities we serve. These partnerships – which are part of our Indigenous Reconciliation Action Plan – allow Indigenous communities to beneficially invest in our operations and play a greater role in shaping Canada's energy future," stated Ebel. He further noted that this transaction is one of several such partnerships Enbridge has undertaken, with ongoing exploration of additional opportunities.

The transaction is anticipated to close by the end of the second quarter of 2025, contingent upon the completion of necessary financing arrangements and the fulfillment of all customary closing conditions.