Stonlasec8 Indigenous Alliance to acquire a 12.5% stake in Westcoast natural gas pipeline system from Enbridge for CAD715m.

Stonlasec8 Indigenous Alliance, a partnership of 36 First Nations in British Columbia focused on Indigenous economic development, agreed to acquire a 12.5% stake in Westcoast natural gas pipeline system, a critical natural gas transmission asset in BC, from Enbridge, an energy company, for CAD715m. "Enbridge's commitment to advance Indigenous ownership opportunities related to our existing and growing energy assets underlines our efforts to be the First Choice partner for the communities we serve. These partnerships – which are part of our Indigenous Reconciliation Action Plan – allow Indigenous communities to beneficially invest in our operations and play a greater role in shaping Canada's energy future. This transaction is one of several such partnerships we have undertaken in the last several years and we continue to explore additional opportunities for Indigenous partnerships," Greg Ebel, Enbridge President and CEO.