Indigenous groups invest $65.3 million in Coastal GasLink pipeline in B.C

By Lauren Krugel A group representing five First Nations says it has invested $65.3 million for an interest in the Coastal GasLink pipeline, which brings natural gas from northeastern B.C. to the LNG Canada plant in Kitimat — and is set for a big expansion. FN CGL Pipeline Ltd. Partnership said in a news release Tuesday that members are putting up their own funds. “Our Nations are making this investment with their own capital. No government loan guarantees, no borrowed money,” said Chief Harley Chingee of McLeod Lake Indian Band. “It was a deliberate choice, the best way to secure maximum benefits from what we believe to be a sound commercial investment. The returns will now belong entirely to the communities, as will decisions as to how they are used.”…

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