A B.C. First Nation and a Houston-based firm are buying a ready-to-construct pipeline project that would supply a proposed floating LNG export terminal north of Prince Rupert.
The Nisga’a Nation – whose lands are located on the northwest coast of B.C. near the city of Terrace – and its partner, Texas-based Western LNG, announced Thursday they will be acquiring the Prince Rupert Gas Transmission project from Calgary-based TC Energy Corp.
Financial details of the transaction were not disclosed, but TC Energy said in a news release that initial proceeds from the transaction will not be material. Instead, the company said it has the potential to receive additional payments contingent upon the pipeline getting built and beginning operation.
“Today is a historic day for the Nisga’a Nation and represents a sea change in major industrial development in this country,” said Eva Clayton, President of the Nisga’a Lisims government, in a news …