In a first for Canada — and the world — a British Columbia native group will be the majority owner of a major LNG export terminal.Kitimat’s Haisla Nation will sign on for 50.1% of the $4.6 billion Cedar LNG project on Canada’s West Coast, in partnership with Calgary-based Pembina Pipeline.Native and industry leaders called it an huge step forward for economic reconciliation that will provide jobs and benefits for coastal communities while providing Western Canada with another outlet its abundant — and clean — natural gas reserves.“Today, the Haisla Nation, with our partner Pembina, have made history as the world’s first Indigenous community to develop an LNG facility as majority owners,” said Chief Crystal Smith. “Because of our Nation’s determination and environmental leadership, Cedar LNG will make the most significant mark on economic reconciliation ever in our country. With Cedar LNG, we have proven that Indigenous communities can successfully forge a path to economic independence and generational prosperity.”.Under a long-term transportation agreement with Coastal GasLink Pipeline Limited Partnership, the facility will receive 400 million cubic feet per day of natural gas via the Coastal GasLink pipeline that was completed earlier this year.The Douglas Channel, leading to and from the site, offers an established, reliable shipping route and deepwater marine inlet, with year-round ice-free conditions and one of the shortest shipping routes to Asia when it comes into service in 2028.CIBC acted as sole financial advisor to the Haisla Nation in connection with its financing with the First Nations Finance Authority — in other words, no government money.In addition to being Canada’s first native-owned industrial energy project, it will also be Canada’s first floating offshore loading terminal. It will also be powered with renewable hydro electricity, making it one of the lowest emitting facilities on the planet..That means it checks off all the federal government’s environmental boxes for energy projects. That prompted Prime Minister Justin Trudeau do off congratulations via video statement despite his infamous comments that there is no business case for LNG.Even BC Premier David Eby was gushing with praise.“Cedar LNG is a shining example of how natural resource development should work in our province—in full partnership with First Nations and with the lowest emissions possible. By working together, we can build a stronger and cleaner economy that creates opportunities and benefits for all.”
