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(VANCOUVER, B.C.) - A jointly owned subsidiary of the Nisga’a Nation and Western LNG LLC (Western) have entered into a binding agreement with TC Energy to acquire all of its outstanding shares in Prince Rupert Gas Transmission Holdings Ltd. and the limited partnership interests in Prince Rupert Gas Transmission Limited Partnership (collectively, PRGT). The transaction supports the timely advancement of the approved and permitted pipeline.
“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 taking an equal ownership role in this pipeline, we are signalling a new era for Indigenous participation in the Canadian economy. First Nations are no longer being left behind as generational wealth is built from the resources of our lands. At long last, hope and optimism are returning to Indigenous communities across northern B.C.”
“We want to acknowledge TC Energy’s efforts developing the project to this point,” said Davis Thames, President and Chief Executive Officer of Western. “PRGT is fully engineered, permitted, and ready to construct. Our collaboration with TC Energy has given us the benefit of their team’s experience and insight. Under our new partnership and leadership model we will build on those learnings and on their work done to date, and we will move this critical project forward with renewed momentum and a fresh perspective.”
The Nisga’a Nation and Western intend to enter into an agreement with an internationally respected construction manager to build the pipeline. The co-developers anticipate contracting with many of the same companies that have worked on similar B.C. pipelines, benefitting from the learnings and experience gained during construction of those projects. As construction winds down on many major projects, PRGT will be getting underway, extending work opportunities for tens of thousands of British Columbians.
The acquisition will be finalized upon the completion of a Purchase and Sales Agreement and customary closing conditions, expected in the second quarter of 2024.
