Indigenous non-profit looks to acquire ownership of Trans Mountain Pipeline
A new Indigenous non-profit organization is seeking an ownership stake in the Trans Mountain Pipeline, saying its aim is to make sure communities along the pipeline's route receive its benefits directly.
Nesika Services publicly launched Monday, calling itself a grassroots, community-led not-for-profit.
Chief Tony Alexis of the Alexis Nakota Sioux Nation in Alberta (and the chair and founding director of Nesika) said 14 Indigenous communities along the pipeline's route in Alberta and B.C. have already signed on.
He said Nesika is in the process of reaching out to all 129 communities that have been identified by the federal government as being impacted by Trans Mountain to ensure they have a chance to join in.
"Ultimately what we're trying to do right now is to organize the communities,'' Alexis said in an interview. "Once Canada has decided they're willing to sell this pipeline, then at that time we'll be negotiating to purchase."
The Trans Mountain pipeline carries 300,000 barrels of oil per day, and is Canada's only pipeline system transporting oil from Alberta to the West Coast.
It was bought by the federal government for $4.5 billion in 2018, after previous owner Kinder Morgan Canada Inc. threatened to scrap the pipeline's planned expansion project in the face of environmentalist opposition.
Under the ownership of Trans Mountain Corp., a federal Crown corporation, the Trans Mountain expansion project is currently underway, and Prime Minister Justin Trudeau has indicated that he is open to ownership of the pipeline by Indigenous groups.
Several Indigenous-led initiatives have already come forward. Project Reconciliation is seeking a 100 per cent ownership stake in the pipeline with no equity requirement or liability risk to Indigenous partners. Its goal is to distribute cash flow from the pipeline between the participating Indigenous community owners, and an Indigenous Sovereign Wealth Fund that will invest in energy transition projects.
Chinook Pathways – which is also seeking an equity stake – is an Indigenous-led partnership formed by Western Indigenous Pipeline Group and its industry partner, Pembina Pipeline Corp.
What sets Nesika Services apart from these other proposals, Alexis said, is that it is a true not-for-profit not backed by industry or affiliated with financial institutions or any other operating parties.
"These groups, these other groups, they are profit-oriented, which is a major conflict for Indigenous communities," Alexis said.
"For me, as a community leader, when I look at Nesika, it provides the best opportunity for us to build our wealth and grow our communities. Resources are needed within the communities and Nesika provides that kind of opportunity for us."
Alexis said Nesika is exploring both equity and revenue sharing opportunities in Trans Mountain with no up-front capital requirements from participating groups.
He declined to see how a potential purchase would be financed, saying that will be determined once the government of Canada makes the potential terms of a sale clear.
The federal government has not yet accepted any bids for the pipeline, though Alexis said he expects negotiations with interested parties to begin "within a month or two."
Nesika's other founding directors include Chief Alice McKay of Matsqui First Nation, Coun. David Walkem of Cook's Ferry Indian Band, and Mark Peters from Peters First Nation.
This report by The Canadian Press was first published Jan. 24, 2022.
CTVNews.ca Top Stories
Doctors ask Liberal government to reconsider capital gains tax change
The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing it will affect doctors' retirement savings.
Keeping these exotic pets is 'cruel' and 'dangerous,' Canadian animal advocates say
Canadian pet owners are finding companionship beyond dogs and cats. Tigers, alligators, scorpions and tarantulas are among some of the exotic pets they are keeping in private homes, which pose risks to public safety and animal welfare, advocates say.
Prince William and wife Kate thank public for birthday messages for son Louis
Prince William and his wife Kate thanked the public for their messages which had been sent to mark the sixth birthday of their youngest son Louis on Tuesday.
She was the closest she'd ever been to meeting her biological father. Then life dealt her a blow
Anne Marie Cavner was the closest she'd ever been to meeting her biological father, but then life dealt her a blow. From an unexpected loss to a host of new relationships, a DNA test changed her life, and she doesn't regret a thing.
How quietly promised law changes in the 2024 federal budget could impact your day-to-day life
The 2024 federal budget released last week includes numerous big spending promises that have garnered headlines. But, tucked into the 416-page document are also series of smaller items, such as promising to amend the law regarding infant formula and to force banks to label government rebates, that you may have missed.
RCMP uncovers plot to sell drones and equipment to Libya
The RCMP says it has uncovered a ploy to sell Chinese drones and military equipment to Libya illegally.
Which foods have the most plastics? You may be surprised
'How much plastic will you have for dinner, sir? And you, ma'am?' While that may seem like a line from a satirical skit on Saturday Night Live, research is showing it's much too close to reality.
'Catch-and-kill' strategy to be a focus as testimony resumes in Trump hush money case
A veteran tabloid publisher was expected to return to the witness stand Tuesday in Donald Trump's historic hush money trial.
Quebec farmers have been protesting since December. Is anyone listening?
Upset about high interest rates, growing paperwork and heavy regulatory burdens, protesting farmers have become a familiar sight across Quebec since December.