Potential buyer likes feds’ vision

CALGARY A First Nations consortium planning to offer $6.8 billion for majority ownership of the Trans Mountain pipeline and its expansion is welcoming federal government principles for Indigenous buyers announced Monday.

The government’s continued endorsement of Indigenous ownership is “fantastic news,” said Shane Gottfriedson, director for British Columbia for the group calling itself Project Reconciliation.

“This is one hell of an opportunity for all of our First Nations to look at our own reconciliation through this pipeline and build unity among many of our nations,” added the former B.C. regional chief for the Assembly of First Nations.

Several First Nations have indicated interest in buying a stake in the pipeline as an investment to promote their economic well-being but its construction is strongly opposed by many others, particularly in B.C., who fear its environmental risks.

The principles unveiled by Finance Minister Bill Morneau on Monday won’t affect Project Reconciliation’s plan to invite all Indigenous communities in Western Canada to join in a united bid for 51 per cent of the pipeline, said Harrie Vredenburg, an executive board member for the group.

“Minister Morneau’s four principles for Indigenous ownership ... are exactly aligned with those of Project Reconciliation,” he said in an email.

The four points suggest that talks of potential Indigenous pipeline ownership can proceed only if the communities have “meaningful economic participation,” if the deal is in the spirit of reconciliation, and if the entity works to the benefit of all Canadians and goes forward on a commercial basis.