Ottawa opens up 15% Trans Mountain equity stake to Indigenous groups on pipeline path

The Canadian government offered Indigenous groups along the Trans Mountain pipeline a collective 15% equity stake, aiming to fulfill a long-standing promise. In a letter seen by The Canadian Press, a Department of Finance official stated that this investment would be distributed equally among participating groups via a low-cost government loan. Additionally, Finance Minister François-Philippe Champagne announced a $2.5 million payment for Indigenous communities willing to take part in the 15% equity stake, describing it as compensation for delays in reaching an agreement since Ottawa purchased the pipeline in 2018 for $34 billion. The government has sent letters to 129 Indigenous communities along the pipeline route with this offer, and since the expansion began operating in May 2024, the government has received a total of $2.6 billion from the project.