TC Energy has announced the closing of an investment agreement that grants five indigenous communities an economic interest in the Coastal GasLink (CGL) natural gas pipeline in British Columbia (BC), Canada.
The deal was structured through FN CGL Pipeline Limited Partnership, an indigenous-led entity that the participating First Nations established to pursue the opportunity.
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The participating communities are the Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations and West Moberly First Nations.
Under the arrangement, they will obtain an interest in the entity holding TC Energy’s limited partner position in CGL, giving them access to sustained, foreseeable financial returns from the infrastructure asset.
TC Energy, which operates and co-owns the pipeline, said the transaction is the first of two indigenous investment deals planned around CGL.
A future transaction is anticipated to include additional First Nations and is targeted for completion in the fourth quarter of 2026.
According to TC Energy, the indigenous investment entity was established following several years of preparations by the participating Nations to facilitate this deal.
The CGL pipeline runs 670km from Dawson Creek to the LNG Canada liquefaction facility in Kitimat, northern BC, and currently transports around 2.1 billion cubic feet per day of Canadian natural gas.
The pipeline supports Canadian liquefied natural gas (LNG) exports to international markets.
Throughput is poised to grow considerably after TC Energy confirmed in September 2026 that CGL Phase 2 would proceed, following a positive final investment decision by LNG Canada and its joint venture participants on expanding the Kitimat facility.
This followed the signing of commercial agreements between CGL and LNG Canada in March 2026 for the project’s second development phase.
LNG Canada is a partnership comprising Shell, Petronas, PetroChina, Mitsubishi and the Korea Gas Corporation.
Phase two will introduce new compressor stations and upgrade existing infrastructure along the corridor, nearly doubling the pipeline’s capacity.
RBC Capital Markets acted as financial adviser to TC Energy, with Blake, Cassels & Graydon providing legal counsel.
The partnership was advised by the Indigenous Wealth Finance Group and PNL Consulting on business and financial matters, while Cassels Brock & Blackwell served as its legal counsel.
