"Group of First Nations and Métis communities acquires minority stake in 7 Enbridge pipelines," 28 Sept 2022

Enbridge Inc. has signed a deal to sell a minority stake in seven pipelines in the Athabasca region of northern Alberta to a group of 23 First Nation and Metis communities for $1.12 billion. Premier Jason Kenney called the purchase a "historic, game-changing deal" at a press conference Wednesday with multiple stakeholders present, including Enbridge executives and members of some of the communities involved in the purchase.

... Athabasca Indigenous Investments (Aii), a limited partnership of 23 Treaty 6 and Treaty 8 First Nations and Metis communities, will manage the investment which includes an 11.57 per cent non-operating interest in the pipelines. Aii said the deal is expected to bring in more than $10 million annually to the communities represented in the partnership.

... Chief Greg Desjarlais of Frog Lake First Nation said in the statement that the investment supports economic sovereignty for the Athabasca region communities. At the conference, Desjarlais called the deal "a new path for our people." He thanked AIOC for its role in the financing, and said the funds from the investment will help support such areas as healthcare, education and housing in the Athabasca region.