Indigenous groups invest $65.3 million in Coastal GasLink pipeline in B.C.

A group representing five First Nations says it has invested $65.3 million for an interest in the Coastal GasLink pipeline, which brings natural gas from northeastern B.C. to the LNG Canada plant in Kitimat — and is set for a big expansion. 

FN CGL Pipeline Ltd. Partnership said in a news release Tuesday that members are putting up their own funds. 

"Our Nations are making this investment with their own capital. No government loan guarantees, no borrowed money,” said Chief Harley Chingee of McLeod Lake Indian Band. 

"It was a deliberate choice, the best way to secure maximum benefits from what we believe to be a sound commercial investment. The returns will now belong entirely to the communities, as will decisions as to how they are used."

Other members of the group are the Haisla Nation, Halfway River First Nation, Saulteau First Nations and West Moberly First Nations. 

"This investment framework recognizes the importance of partnership, financial certainty and shared prosperity, while supporting our communities’ ability to make decisions about our own economic future," Chief Roland Willson of West Moberly First Nations said.

TC Energy chief executive François Poirier congratulated the First Nations on completing the deal. 

"This transaction reflects years of collaboration, leadership and determination by the Nations involved to create a long-term economic opportunity for their communities."

Coastal GasLink runs 670 kilometres from northeastern B.C. to Kitimat, B.C., with a capacity of 2.1 billion cubic feet per day. It is operated by TC Energy Corp. 

Under the deal, FN CGL and TC Energy collectively now hold an indirect 35 per cent interest in the pipeline through a TC subsidiary. The remaining 65 per cent is held by KKR Co. and Alberta Investment Management Corp. on behalf of certain clients.

"The structure provides stable cash flows without typical equity volatility, helping support long-term planning and managing of community priorities," a spokesperson for TC Energy said in an emailed statement. 

"It provides long-term predictable distributions, providing stable investment income while reducing risks associated with direct ownership."

Tuesday's deal is the first of two planned Indigenous investment transactions related to Coastal GasLink. TC Energy says a second transaction with another First Nations entity is expected to close in the fourth quarter of this year.

In 2022, TC Energy announced the signing of option agreements to sell a 10 per cent equity interest in the pipeline to Indigenous communities across the project corridor. 

The company recently announced plans to double the existing capacity of the Coastal GasLink pipeline by adding new compressor stations and upgrading facilities.

For the second phase of the pipeline, LNG Canada — owned by Shell Canada and four Asian partners — is leading construction, limiting the Coastal GasLink owners' spending and cost and schedule risk. The Coastal GasLink partners remain owners. 

Construction is to begin in early 2027 and the expansion is set to come into service in the early 2030s. 

The decision came after LNG Canada announced a final greenlight for the Phase 2 expansion of its facility, which enables natural gas chilled into a liquid state to be shipped across the Pacific. The first phase started up in the summer of 2025. 

This report by The Canadian Press was first published Oct. 13, 2026.

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By Lauren Krugel | Copyright 2026, The Canadian Press. All rights reserved.