First Nations in B.C. contemplating financing, equity model for stake in Trans Mountain oil pipeline – Vancouver Sun

by pmnationtalk on July 17, 2018274 Views

July 17, 2018

Talks are underway with unnamed major Canadian banks on a potential financing and equity model that could see B.C. First Nations take an ownership stake in the controversial $6.8-billion Trans Mountain pipeline expansion.

Whispering Pines First Nation chief Michael LeBourdais said two major Canadian banks approached First Nations in March or April of this year. That was about the time Houston, Texas-based project owner Kinder Morgan issued an ultimatum that unless it had certainty it could built the project through British Columbia, it was walking away.

Since then, Prime Minister Justin Trudeau’s Liberal government have stepped in with an agreement to purchase the existing Trans Mountain pipeline and the expansion project for $4.5 billion, a transaction expected to close in the fall.

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