CALGARY-Enbridge Inc. has signed a deal to sell a minority stake in seven pipelines in the Athabasca region of northern Alberta to a group of 23 First Nation and Metis communities for $1.12 billion.<\/p>\n
Athabasca Indigenous Investments, a limited partnership of 23 Treaty 6 and Treaty 8 First Nations and Metis communities, will manage the investment which includes an 11.57 per cent non-operating interest in the pipelines.<\/p>\n
Enbridge chief executive Al Monaco says the partnership exemplifies how Enbridge and Indigenous communities can work together.<\/p>\n
The pipelines included in the agreement are the Athabasca, Wood Buffalo\/Athabasca Twin and associated tanks, Norlite Diluent, Waupisoo, Wood Buffalo, Woodland and the Woodland extension.<\/p>\n
Enbridge says the assets are underpinned by long-life resources and long-term contracts, which provide highly predictable cash flows.<\/p>\n
The deal is expected to close within the next month.<\/p>\n
\u00a0This report by The Canadian Press was first published Sept. 28, 2022.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" CALGARY-Enbridge Inc. has signed a deal to sell a minority stake in seven pipelines in the Athabasca region of northern Alberta to a group of 23 First Nation and Metis communities for $1.12 billion. Athabasca Indigenous Investments, a limited partnership of 23 Treaty 6 and Treaty 8 First Nations and Metis communities, will manage the …<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":""},"categories":[32,39],"tags":[],"yoast_head":"\n