Indigenous Energy Summit to tackle pipeline ownership, leadership issues – by Geoffrey Morgan (Financial Post – January 16, 2019)

https://business.financialpost.com/

First Nations will hear presentations on how they might take ownership of major energy projects, including the Trans Mountain pipeline

CALGARY — First Nations that produce oil and gas in Canada will tackle some of the most contentious issues facing the sector at the Indigenous Energy Summit on Wednesday, including potential ownership bids for, and protests about, pipelines.

One of the biggest issues in the Canadian energy sector is the ongoing fight between hereditary chiefs and elected chiefs over the the $6.2-billion Coastal GasLink pipeline in British Columbia, which has opened wounds for current and former northern B.C. chiefs.

Meanwhile, First Nations will hear presentations on how they might take ownership of major energy projects, including the Trans Mountain pipeline.

Steven Saddleback of the Indian Resource Council says a session will feature presentations on financing models that could be followed to allow ownership of major projects, including the oil pipeline from Edmonton to Burnaby, B.C.

When the federal government bought Trans Mountain and its controversial expansion project from Kinder Morgan Canada Ltd. last year for $4.5 billion, it signalled that it did not intend to hold it for the long term and that potential buyers included indigenous groups.

For the rest of this article: https://business.financialpost.com/commodities/energy/indigenous-energy-summit-kicks-off-as-tensions-rise-over-elected-vs-hereditary-chiefs

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