LNG Canada announces Indigenous equity option for Phase 2 storage tank

The agreement provides MNT Investments LP the opportunity to invest up to CAN$1 billion to acquire a majority equity ownership interest in a special purpose entity that would purchase the planned LNG storage tank to be built as part of LNG Canada’s proposed Phase 2 expansion. The assets would then be leased back to LNG Canada for the operational life of the project. LNG Canada would continue to safely operate and maintain the facility, tank, and associated infrastructure. The transaction would represent one of the largest Indigenous ownership positions in major Canadian infrastructure and a significant Indigenous investment in Canada’s LNG sector.

The equity option agreement is conditional on LNG Canada’s JVPs approving their proposed Phase 2 expansion in Kitimat, British Columbia, in the traditional territory of the Haisla Nation. A final investment decision for Phase 2 is being targeted by the end of 2026.

The investment would provide participating First Nations with majority ownership in major infrastructure supporting Canada’s largest LNG export facility. This opportunity enables Indigenous equity in a key national and provincial priority project starting from the construction phase, representing an evolution in Indigenous infrastructure ownership.

“Our announcement reflects our continued commitment to reconciliation by creating a pathway for Indigenous equity in our proposed Phase 2 expansion. This agreement recognises 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. Together with Gitga’at, Gitxaala, Haisla, Kitselas, and Kitsumkalum, we continue to work toward our shared vision of helping Canada become a top-five global LNG exporting nation and providing the world with a secure, reliable supply of lower-carbon LNG,” said Chris Cooper, President and CEO of LNG Canada.

Arnold Clifton, Elected Chief Councillor, Gitga’at First Nation, commented: “The Gitga’at First Nation is honoured to be part of this ongoing landmark journey. This partnership with LNG Canada and the five Nations at the MNT table serves as a prime example of the sum being greater than the individual contributions. Many hands, each doing a lot of heavy lifting, ensure this partnership will deliver benefits to the region and all involved for many generations. It further positions the North Coast as a global energy hub for LNG and demonstrates that we can accomplish great things together in this dynamic world in which we exist.”

Luugagwelks (Linda Innes) Elected Chief Councillor, Gitxaala Nation, added: “As the oldest society on the North Coast, Gitxaala has always stewarded this region’s lands, waters, and resources. This historic agreement reflects that responsibility and proves a different path is possible for Indigenous Nations and major resource development in Canada. This is far more than a commercial transaction. It marks a fundamental shift in how development can occur in our traditional territory: one where Indigenous Nations are not expected to accept impacts but instead participate as equity owners and true partners. The agreement affirms a simple truth: Gitxaala territory belongs to Gitxaala. We will always be at the table on decisions affecting our economy, environment, and stewardship responsibilities. We are open for business with the right partners and governments, and this agreement shows what is possible when trust is earned. By setting aside differences, we can strengthen all our communities and all of British Columbia. That is leadership, and it is the path Gitxaala has always taken.”

Maureen Nyce, Elected Chief Councillor, Haisla Nation, stated: “For nearly 15 years, Haisla Nation has stewarded a sustainable, Nation-building LNG industry aligned with Indigenous values. Today’s announcement reflects what is possible when industry and Indigenous communities come together as partners, investors, and decision-makers – defining the next phase of LNG Canada in a manner that creates generational prosperity for Haisla Nation and neighbouring Nations. It reaffirms our long-standing belief that when Indigenous communities lead, the whole country can thrive. This agreement marks a defining point in our collective history – one where Indigenous equity and ownership in energy infrastructure becomes the norm, not the exception.”

Glenn Bennett, Elected Chief Councillor, Kitselas First Nation, remarked: “On behalf of Kitselas First Nation, I am deeply honoured to acknowledge a profound shift in how major projects are built on our territories. True reconciliation is not just about consultation; it is about equity, ownership, and long-term value creation for our people. This agreement establishes a historic pathway. By securing a stake in LNG Canada’s tank infrastructure, we are not just participating in Canada’s energy future; we are ensuring that future directly sustains our community for generations to come. We stand proudly with our neighbouring Nations to realise this shared vision.”

Diane Collins, CEO, Kitsumkalum Economic Development Group, concluded: “Approximately 170 years ago nearly to this day, the 5^th Parliament of the Province of Canada accented the Gradual Civilization Act of 1857. The GCA was a precursor to the current Indian Act and it was intended to assimilate the Indian by removing our inherent rights. We have come a long way from that day to this, a day when we are recognised as the First Nations of this country, standing shoulder to shoulder with our neighbouring First Nations communities and an energy industry giant such as LNG Canada, to proudly participate in a commercial achievement that even 10 years ago would have seemed unthinkable. This is reconciliation at work.”

Read the article online at: https://www.lngindustry.com/liquefaction/15072026/lng-canada-announces-indigenous-equity-option-for-phase-2-storage-tank/