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Jan 23 2015

Moricetown signs two LNG deals

Posted by Coastal GasLink

The Moricetown Band has signed on to receive millions of dollars in payments from two LNG deals, including one which gives Chevron Apache the last First Nations signature needed to start work on the Pacific Trails Pipeline.

The band announced today it had entered into two LNG agreements, one with the province and another with industry.

Under the first agreement, Moricetown Band will receive an immediate payment of $1.1 million as the 16th and final First Nation to enter into the First Nations Limited Partnership (FNLP) with Chevron Apache.

The FNLP provides immediate and long-term financial rewards totaling $55.4 million in exchange for support of the proposed Pacific Trails Pipeline from Summit Lake to Kitimat.

The second deal, a provincial government benefits agreement, pertains to TransCanada’s Coastal Gaslink pipeline and consists of a combination of employment and environmental funds and legacy payments.

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