The federal government begins its efforts to sell the Trans Mountain pipeline, some say ownership by Indigenous people is needed for reconciliation.
Workers lay pipe during construction of the Trans Mountain pipeline expansion on farmland, in Abbotsford, B.C., on Wednesday, May 3, 2023. The director of one of the groups seeking to buy a stake in the Trans Mountain pipeline says nothing less than "material" ownership by Indigenous people is acceptable if the federal government is serious about reconciliation.
While it’s not clear what size of stake is available during this first phase of negotiations, Mason, whose group is not participating in the first round, said he has heard that number could fall between 20 and 40 per cent, and that the federal government will support Indigenous communities with the purchase by helping them to access capital.The second phase of the divestment process will involve the consideration of commercial offers for the remaining stake in the pipeline.
But Mason said this must not be a situation where corporate interests acquire the bulk of the pipeline equity and Indigenous people are left with the scraps. Mason declined to speculate publicly on what the present value of the Trans Mountain pipeline actually is. Though bought by the federal government for $4.5 billion, the capital costs of the pipeline’s expansion project have ballooned to more than $30 billion due to construction-related challenges.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indigenous ownership of Trans Mountain must be 'material', prospective bidder saysCALGARY — The director of one of the groups seeking to buy a stake in the Trans Mountain pipeline says nothing less than 'material' ownership by Indigenous...
Read more »
Indigenous ownership of Trans Mountain must be ‘material’, prospective bidder saysThe federal government recently launched talks with more than 120 Western Canadian Indigenous communities whose lands are located along the pipeline route
Read more »
Indigenous ownership of Trans Mountain must be 'material', prospective bidder saysCALGARY — The director of one of the groups seeking to buy a stake in the Trans Mountain pipeline says nothing less than 'material' ownership by Indigenous people is acceptable if Ottawa is serious about reconciliation.
Read more »
Indigenous ownership of Trans Mountain must be 'material', prospective bidder saysAs the federal government begins its efforts to sell the Trans Mountain pipeline, the director of one of the groups seeking to buy a stake says nothing less than 'material' ownership by Indigenous people is acceptable if Ottawa is serious about reconciliation.
Read more »
Regulator provides its reasons for Trans Mountain route change rulingCALGARY — The Canada Energy Regulator has released its reasons behind its decision last month to allow Trans Mountain Corp. to go ahead with a pipeline route...
Read more »
Regulator provides its reasons for Trans Mountain route change rulingCALGARY — The Canada Energy Regulator has released its reasons behind its decision last month to allow Trans Mountain Corp. to go ahead with a pipeline route deviation against the wishes of a B.C. First Nation.
Read more »