Five First Nations on British Columbia's North Coast have been offered the opportunity to acquire what could become one of the largest indigenous ownership stakes in Canadian energy infrastructure through LNG Canada's proposed Phase 2 expansion.LNG Canada and its joint venture partners announced Tuesday they have signed a landmark equity option agreement with MNT Investments LP, a partnership representing the economic development organizations of the Gitga'at, Gitxaała, Haisla, Kitselas and Kitsumkalum First Nations.The agreement gives MNT Investments LP the option to spend up to $1 billion to acquire a majority ownership interest in a special-purpose entity that would purchase the liquefied natural gas storage tank planned for LNG Canada's proposed Phase 2 expansion in Kitimat.Under the proposed arrangement, the First Nations-owned entity would lease the storage tank back to LNG Canada for the life of the project, while LNG Canada would continue operating and maintaining the facility.If completed, the transaction would represent one of the largest indigenous ownership positions in major Canadian infrastructure and one of the largest indigenous investments in Canada's LNG sector.The agreement is contingent on LNG Canada's joint venture partners approving Phase 2 of the project, with a final investment decision targeted before the end of 2026.The proposed expansion would add two additional LNG processing trains, increasing the Kitimat facility's production capacity to as much as 30 million tonnes annually..LNG Canada president and CEO Chris Cooper said the agreement expands indigenous participation beyond employment and procurement opportunities."Our announcement reflects our continued commitment to reconciliation by creating a pathway for indigenous equity in our proposed Phase 2 expansion," Cooper said."This agreement recognizes that indigenous Nations should have the opportunity to participate in major investments like Phase 2, not only through jobs, training, procurement and community benefits, but also through long-term ownership and value creation at a global scale."LNG Canada began commercial operations on June 30, 2025, and says it has since shipped more than 100 LNG cargoes.Chiefs from the participating First Nations described the agreement as a significant shift in how major resource developments can proceed on their traditional territories..Gitga'at First Nation Chief Councillor Arnold Clifton said the partnership positions the North Coast as a global LNG hub while delivering benefits for future generations.Gitxaała Nation Chief Councillor Linda Innes called the agreement "far more than a commercial transaction," saying it establishes indigenous Nations as equity owners and partners rather than simply communities affected by development.Haisla Nation Chief Councillor Maureen Nyce said the agreement demonstrates that indigenous communities can serve as investors and decision-makers in major resource projects while creating long-term prosperity.Kitselas First Nation Chief Councillor Glenn Bennett said the ownership model represents "a profound shift" in resource development, arguing reconciliation requires equity ownership rather than consultation alone.Kitsumkalum Economic Development Group CEO Diane Collins described the agreement as evidence of how relations between indigenous communities and industry have evolved, calling it "reconciliation at work."The storage tank proposed for Phase 2 would have a capacity of 225,000 cubic metres, making it the largest LNG storage tank in Canada and among the largest in the world.LNG Canada is a joint venture owned by Shell Canada Energy, PETRONAS, PetroChina, Mitsubishi Corporation and Korea Gas Corporation. The Kitimat project is currently Canada's largest LNG export facility and one of the country's largest private-sector investments.
