Indigenous groups set to purchase Enbridge pipeline stakes in Athabasca region for $1.12B

In one of the largest deals of its kind in North America, 23 First Nations and Métis communities are set to purchase a minority stake in seven Enbridge Inc. pipelines in the Athabasca region.

Enbridge said that the purchase will be for an 11.57 per cent interest in the oil-rich region.

“On behalf of the Indigenous partners, we are proud to become equity owners in these high-quality assets which contribute to North American energy supply and security,” said Athabasca Indigenous Investments President Justin Bourque in the release.

The investment will be overseen by a new entity called Athabasca Indigenous Investments.

Worth $1.12 billion, this investment will provide a long-term stream of income for Indigenous communities.

“This project is exciting and historic in its scale. For all 23 Indigenous communities that are investing in these infrastructure assets, there is a more stable economic future ahead,” said Rick Wilson, Minister of Indigenous Relations

The 23 communities involved in the purchase are:

Metis Settlements

  • Buffalo Lake Metis Settlement
  • Kikino Metis Settlement
  • Elizabeth Metis Settlement
  • Fishing Lake Metis Settlement

Treaty 8 First Nations

  • Athabasca Chipewyan First Nation
  • Chipewyan Prairie First Nation
  • Fort McKay First Nation
  • Fort McMurray 468 First Nation
  • Mikisew Cree First Nation

Métis communities

  • Chard Métis Nation
  • Conklin Métis Local 193
  • Fort Chipewyan Métis Local 125
  • Fort McKay Métis Nation
  • McMurray Métis Local 1935
  • Willow Lake Métis Nation

Treaty 6 First Nations

  • Beaver Lake Cree Nation
  • Cold Lake First Nations
  • Frog Lake First Nation
  • Heart Lake First Nation
  • Kehewin Cree Nation
  • Onion Lake Cree Nation
  • Saddle Lake Cree Nation
  • Whitefish/Goodfish Lake First Nation

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