An Indigenous-owned energy company is planning to invest up to $1 billion in the Keystone XL pipeline.
Natural Law Energy, a coalition of First Nations in Alberta and Saskatchewan, has signed a definitive agreement with TC Energy to acquire equity in the multi-billion dollar project.
“[NLE] has used the same blueprint our ancestors used when they negotiated the Treaties that governed working together to share the land,” said Travis Meguinis, CEO of Natural Law Energy.
“As an Indigenous-led company, we need to ensure sustainability to Mother Earth and share our understanding as stewards of the land by bringing our traditional protocols and values to these projects.”
The pipeline would be nearly 2,000 km long, connecting Hardisty, Alberta, to Steele City, Nebraska. If completed, it would transport around 830,000 barrels per day to Gulf Coast Refineries.
The government of Alberta has also invested $1.5 billion in the project.
“As stewards of the land, air, and water, First Nations project partners will help ensure that Keystone XL – and projects like it – continue to be built with the protection of the environment at the forefront of every decision,” added Premier Jason Kenney.
There are some concerns about whether the project would move forward.
During his election campaign, U.S. president-elect Joe Biden claimed he would scrap Keystone after it was approved by current President Donald Trump.
However, NLE believes the project will move forward.
“It’s going to benefit many generations to come,” said Chief Alvin Francis, President of Natural Law Energy and Chief of Nekaneet First Nation.
“Thirty to forty years from now, Nekaneet First Nation members will see the opportunities through this definitive agreement by creating inter-generational wealth for many generations to come.”