Historic Pipeline Deal Gives Indigenous Group Ownership in Enbridge Asset
Indigenous Nations Gain $715M Stake in Enbridge’s Legacy Pipeline, Ushering in a New Era of Economic Reconciliation
In a landmark move that signals a new chapter in Indigenous economic empowerment, Enbridge Inc. has announced the sale of a 12.5% stake in its Westcoast natural gas pipeline system to a coalition of 36 First Nations in British Columbia. The transaction, valued at approximately $715 million, marks one of the largest Indigenous equity partnerships in Canadian energy infrastructure history and is being widely hailed as a tangible example of economic reconciliation.
The First Nations group, operating under the Stonlasec8 Indigenous Alliance Limited Partnership, will acquire their stake through a financing arrangement supported by a $400 million loan guarantee from the newly launched Canada Indigenous Loan Guarantee Corporation, a subsidiary of the Canada Development Investment Corporation. This strategic backstop, designed to accelerate Indigenous participation in major resource projects, enabled the deal to reach commercial viability. Pending final financing arrangements and regulatory approvals, the transaction is expected to close by the end of Q2 2025.
The Westcoast pipeline system is no stranger to the communities it now partially belongs to. Spanning more than 2,900 kilometres across British Columbia, the pipeline transports up to 3.6 billion cubic feet of natural gas per day from Fort Nelson and the B.C.-Alberta border to the U.S. border at Huntingdon/Sumas. For over 65 years, this network has delivered affordable, reliable energy to households and industries across B.C., Alberta, and the U.S. Pacific Northwest. But until now, the Indigenous communities whose lands the pipeline has traversed have not held direct ownership in the infrastructure that passes through their territories.
Chief David Jimmie, President and Chair of Stonlasec8 and Chief of the Squiala First Nation, called the agreement a historic milestone for Indigenous economic sovereignty. He emphasized that this is not merely a business transaction—it’s a long-overdue recognition of First Nations’ inherent rights and a concrete step toward reconciliation. The economic benefits of the deal, he said, will fund long-term investments in housing, environmental stewardship, education, cultural revitalization, and critical infrastructure for the member Nations. “People often ask what economic reconciliation for Indigenous Peoples looks like,” Jimmie stated. “This is it.”
From Enbridge’s perspective, the partnership reflects a growing shift in corporate strategy—one that views Indigenous inclusion as fundamental to long-term success. CEO Greg Ebel framed the transaction as a core component of Enbridge’s Indigenous Reconciliation Action Plan, which has guided several recent partnership agreements with Indigenous communities across Canada. “These partnerships allow Indigenous communities to beneficially invest in our operations and play a greater role in shaping Canada’s energy future,” Ebel said. “Our goal is to be the first-choice partner for the communities we serve.”
Cynthia Hansen, Enbridge’s Executive Vice President and President of Gas Transmission and Midstream, reinforced the message, highlighting how the pipeline system remains a cornerstone of Western Canada’s energy infrastructure. According to Hansen, the partnership deepens existing relationships and reflects a shared commitment to energy security, sustainability, and shared prosperity. In her words, “This transaction provides an opportunity to build on our existing relationships with Indigenous communities and help advance reconciliation.”
The Government of Canada has also taken a prominent role in championing the agreement. Federal Minister of Finance François-Philippe Champagne called the loan guarantee “a testament to our commitment to fostering Indigenous economic reconciliation,” and Energy and Natural Resources Minister Tim Hodgson said the partnership “demonstrates how Indigenous leadership and resource development can drive long-term economic prosperity for all Canadians.”
The financial structure of the transaction also speaks to the sophistication of the deal. TD Securities Inc. acted as financial advisor to the First Nations Partnership, with Boughton Law as legal counsel and MNP as business and tax advisors. On Enbridge’s side, RBC Capital Markets served as financial advisor, while McCarthy Tétrault handled legal matters. The level of coordination required to execute such a complex transaction illustrates the growing institutional capacity within Indigenous-led entities to manage large-scale commercial deals on their own terms.
This announcement also comes on the heels of another major collaboration involving Enbridge and Indigenous partners—the Seven Stars Energy Project in Saskatchewan. That wind energy development, in partnership with Six Nations Energy Development LP, aims to generate 200 megawatts of clean electricity and serve over 100,000 homes. Together with the Westcoast pipeline deal, these projects signal a new model of energy development in Canada—one that places Indigenous ownership and participation at the forefront of the industry.
Looking ahead, the significance of this agreement stretches far beyond the pipeline’s steel and gas flow. It’s about rewriting a legacy. For decades, Indigenous communities were sidelined in Canada’s resource economy—consulted, perhaps, but rarely co-owners. This deal upends that paradigm. It gives First Nations a meaningful stake in an asset that has long run through their lands and aligns with broader efforts to redefine resource governance through partnership, equity, and respect.
In a time when energy transition narratives dominate headlines, this deal serves as a powerful reminder: the future of energy in Canada won’t be built solely by governments or corporations. It will be forged in partnership with the Indigenous Peoples who have stewarded the land since time immemorial—and who now, with ownership in hand, are helping to shape the future of Canadian infrastructure, policy, and prosperity.
Conclusion
This isn’t just another corporate transaction—it’s a tectonic shift in how energy infrastructure gets built and owned in Canada. The sale of a stake in the Westcoast pipeline to 36 First Nations through the Stonlasec8 Alliance isn’t just good business—it’s a statement. It reflects a maturing industry, a more inclusive economy, and a long-overdue reckoning with Canada's past. With a $715 million investment and a $400 million federal loan guarantee, Indigenous communities are stepping into boardrooms once closed to them. And as they do, the country takes a giant step forward on the road to true reconciliation.