Suncor partners with eight Indigenous communities to buy TC Energy’s remaining stake in Northern Courier Pipeline [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Suncor partners with eight Indigenous communities to buy TC Energy’s remaining stake in Northern Courier Pipeline Canada’s Suncor Energy said on Thursday it had partnered with eight Indigenous communities to buy all of TC Energy Corp’s 15 per cent stake in the Northern Courier Pipeline Limited Partnership. Suncor, three First Nations and five Métis communities will own a 15 per cent stake in this pipeline asset with a value of about $1.3-billion. Oil and gas companies have been increasingly partnering with Canada’s First Nations on projects as they play a pivotal role in Canada’s oil industry. Governments and companies have a legal duty to consult and accommodate First Nations before proceeding with resource projects affecting their territories. However, some Indigenous groups oppose such partnerships and deals. The partnership is expected to generate gross revenues of about $16-million annually for its partners and provide reliable income, Suncor said in a statement. The Indigenous
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