TransCanada now has nine project agreements with First Nations groups as part of the Coastal GasLink project
TransCanada (ticker: TRP) announced today that the company has signed three new agreements with First Nations groups in connection to the company’s Coastal GasLink pipeline project. Coastal GasLink is proposing to construct and operate a 670-kilometer natural gas pipeline from the Groundbirch area near Dawson Creek, British Columbia, to the LNG Canada liquefied natural gas export facility near Kitimat B.C.
With the addition of the Burns Lake Indian Band, Blueberry River First Nations and the Lheidli T’enneh First Nation, TransCanada now holds long-term agreements with nine First Nations groups in connection to Coastal GasLink.
The agreements look to include the First Nation groups in the process of developing the project, drawing on their expertise to decide the least impactful route, while also offering jobs to local communities.
“We believe the pipeline project will benefit our members today and for future generations, both financially and in terms of employment for our members,” said Chief Marvin Yahey of Blueberry River First Nation.
To date, over a quarter of the 333,000 hours of fieldwork done on the project has been conducted by Aboriginal people. TransCanada estimates that 32% of the $4.8 billion capital project will be spent locally in B.C., with economic benefits including over 2,000 jobs during construction and over $20 million in annual property tax payments. The project has already spent over $41 million in Northern B.C. plus over $1.9 million in community investments along the route, according to TransCanada.
Once constructed, the 48-inch diameter pipeline is expected to have an initial capacity of 2-3 billion cubic feet per day.
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