The company previously sold a 12% stake in seven pipelines to First Nations and Métis communities
The pipeline company is hosting a meeting in Edmonton on Nov. 20 to discuss the potential deal, according to a letter seen by Bloomberg. Details on the assets involved in the potential deal weren’t provided in the letter, which was signed by Colin Gruending, Enbridge’s president of liquids pipelines.
Enbridge and other Canadian energy companies have increasingly been partnering with Indigenous communities on operations that affect their land, helping improve relations with the groups and head off environmental and legal opposition. Enbridge in 2022 agreed to sell a 12 per cent stake in seven pipelines in Alberta to First Nations and Métis communities in a deal it called “Project Rocket.”
“After the success of ‘Project Rocket’ — our first financial partnership with 23 Indigenous nations in Northern Alberta in the fall of 2022 — we are eager to explore new mutually beneficial financial partnerships with other indigenous nations,” Gruending said in the letter.
Enbridge didn’t confirm or deny the meeting, but said in an emailed statement that it “regularly engages with more than 350 Indigenous communities throughout the continent.”
The company is developing a plan that won’t require any up-front cash from the communities and will involve 100 per cent non-recourse debt financing, requiring support from Indigenous loan guarantee programs across Canada. Enbridge will provide $15,000 in funding to cover groups’ time and expenses for participating in the meeting.