Suncor partners with Indigenous communities to buy stake in Northern Courier Pipeline – CTV News

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Suncor partners with Indigenous communities to buy stake in Northern Courier Pipeline – CTV News

by ahnationtalk on September 16, 202133 Views

September 16, 2021

Suncor Energy said on Thursday it had partnered with eight Indigenous communities to buy all of TC Energy’s 15% stake in the Northern Courier Pipeline Limited Partnership.

Suncor, three First Nations and five Métis communities will own a 15% stake in this pipeline asset with a value of about $1.3 billion.

Oil and gas companies have been increasingly partnering with First Nations on projects as they play a pivotal role in Canada’s oil industry. Governments and companies have a legal duty to consult and accommodate First Nations before proceeding with resource projects affecting their territories.

However, some Indigenous groups oppose such partnerships and deals.

Read More: https://www.ctvnews.ca/business/suncor-partners-with-indigenous-communities-to-buy-stake-in-northern-courier-pipeline-1.5587814

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