Ottawa has talked about selling a stake in the pipeline to Indigenous groups since 2019, but some First Nations have dropped out of discussions they see as stalled
Indigenous ownership of the Trans Mountain pipeline system is still on the table, with federal officials holding in-person talks with prospective ownership groups as recently as February, according to people involved in the discussions.
“There’s never been a concrete proposal put in front of the Indigenous communities by the government that owns the asset. And that’s obviously a necessary first step.” Those meetings took place before a March update in which Trans Mountain Corp. announced that the estimated costs for the project had climbed to $30.9-billion, an increase of more than 300 per cent from the initial $7.4-billion that former owner Kinder Morgan Canada forecast in 2017.
In 2018, the federal government bought the existing pipeline and the expansion project from Kinder Morgan Canada Inc. for $4.5-billion, after Kinder Morgan KMI-N threatened to scrap it in the face of opposition from First Nations and environmental groups. In its recent update, Trans Mountain said the project is 80-per-cent complete and expected to be in service in the first quarter of 2024.
“There’s a successful playbook that has been developed on how to proceed with complex equity transactions with multiple communities – and they need to roll out that playbook,” Mr. Poscente said.
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