Suncor Energy partners with eight Indigenous communities in the RMWB

The pipeline, which connects the Fort Hills asset to Suncor's East Tank Farm asset, will be operated by Suncor upon completion of the purchase by Astisiy

 

Suncor today announced the signing of agreements with eight Indigenous communities in the Regional Municipality of Wood Buffalo (RMWB) to acquire all of TC Energy's 15 per cent equity interest in the Northern Courier Pipeline Limited Partnership.

This historic partnership includes Suncor, three First Nations and five Métis communities who will own a 15 per cent stake in this pipeline asset with a value of approximately $1.3 billion, which will provide longterm, stable revenues that will benefit the communities for decades to come.

The purchase of Northern Courier Pipeline will be completed by Astisiy Limited Partnership (Astisiy), which is comprised of Suncor and a partnership of the following communities:

Athabasca Chipewyan First Nation, Chipewyan Prairie First Nation, Conklin Métis Local 193, Fort Chipewyan Métis Local #125, Fort McKay Métis Nation, McMurray Métis, Fort McMurray #468 First Nation and Willow Lake Métis Nation.

With this collaboration in mind, Suncor obtained the rights to purchase all of TC Energy's 15 per cent equity interest in 2019, as part of Northern Courier Pipeline's execution of long-term, non-recourse financing of $1 billion and TC Energy's sale of its remaining 85 per cent interest to the Alberta Investment Management Corporation.

 

Astisiy: Suncor forms partnership with eight Indigenous communities in the RMWB

We’re excited to have eight new business partners in the Regional Municipality of Wood Buffalo. Astisiy is a historic partnership that includes Suncor, three First Nations and five Métis communities that will own a 15% stake in the Northern Courier Pipeline, providing long-term, stable revenues that will benefit the communities for decades to come. Astisiy is comprised of Suncor and a partnership of the Athabasca Chipewyan First Nation, Chipewyan Prairie First Nation, Conklin Métis Local 193, Fort Chipewyan Métis Local #125, Fort McKay Métis Nation, McMurray Métis, Fort McMurray 468 First Nation and Willow Lake Métis Nation.

Posted by Suncor on Thursday, September 16, 2021

 

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