Three First Nations in northern B.C. will receive legacy payments for supporting TransCanada Corp.’s (TSX:TRP) (NYSE:TRP) plans to build a 900-kilometre natural gas pipeline through their territory in northern B.C.
The energy company announced June 1 it had signed a deal with Doig River First Nation, Halfway River First Nation and Yekooche First Nation that would provide immediate financial benefits as well as payments throughout project milestones. Legacy payments would continue throughout the commercial lifetime of the pipeline.
TransCanada’s Prince Rupert Gas Transmission project would see a pipeline carrying liquefied natural gas (LNG) from southwest of Fort St. John to the proposed Pacific NorthWest LNG facility off the B.C. coast, near Prince Rupert.
TransCanada has previously reached agreements with Lake Babine Nation, Nisga'a Lisims Government, Gitanyow First Nation and Kitselas First Nation.
But last month the Lax Kw’alaams First Nation voted to reject Malaysian energy giant Petronas' $1.1-billion offer to support its bid to build the Pacific NorthWest LNG facility.
Details of TransCanada’s agreement with the three First Nations were not released.