TC Energy and Natural Law Energy sign historic MOU facilitating one of the largest Indigenous equity investments of its kind ...
September 29 2020 - 4:50PM
Media Advisory – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy)
and Natural Law Energy (NLE) today announced they have signed a
Memorandum of Understanding (MOU) for NLE to pursue an equity
interest in the Keystone XL Project and other potential related
midstream and power projects. This MOU exemplifies the strong
commitment TC Energy and NLE have made to create a meaningful and
significant long-term partnership. A final agreement between TC
Energy and NLE is expected to be completed in the fourth quarter of
2020, formalizing NLE’s participation in the Keystone XL Project.
“Today’s announcement is a testament to what we can accomplish
when industry and Indigenous groups work together,” said Chief
Alvin Francis, President of NLE. “This historic agreement is an
important step for our Peoples and future generations to share in
the energy wealth coming from our lands and traditional
territories.”
NLE CEO Travis Meguinis stated, “This very substantial and
historic agreement has been reached through the practice of
traditional protocols involving our grassroot Chiefs and leaders.
All the Chiefs, NLE and TC Energy worked hard to develop a path for
all First Nations and industry to follow. This partnership is
historic and one of the largest ever of its kind in Canada and
around Turtle Island (North America).”
Support for the MOU comes from the elected leaders of five First
Nations in Alberta and Saskatchewan:
- Maskwacis Nations (AB)- Ermineskin Cree Nation- Montana First
Nation- Louis Bull Tribe
- Saddle Lake Cree Nation (AB)
- Nekaneet First Nation (SK)
“This MOU, which is one of the first of its kind for TC Energy
with Indigenous communities, is a reflection of our commitment to
working together to ensure Indigenous groups share the benefits of
the Keystone XL Pipeline over the long term as a valuable partner,”
said Richard Prior, President, Keystone XL. “Our goal was not to
just build relationships with Indigenous groups along our
right-of-way, but to build trusted partnerships.
We will work closely with Natural Law Energy and its members to
facilitate Indigenous ownership in our future projects not only
because it makes good business sense but because it’s the right
thing to do for our Liquids Business Unit. We aspire to expand this
model into future opportunities for other Indigenous groups along
our Keystone XL right-of-way both in Canada and the Unites
States.”
Keystone XL highlights
- Advances continental energy security.
- Six comprehensive scientific reviews by the U.S. Department of
State over the past decade concluded that the project can be built
and operated in an environmentally sustainable and responsible
way
- Safer and less-GHG intensive than alternative methods of
transporting crude oil to market
- Thousands of stakeholders engaged, including landowners,
community members and Indigenous communities.
- Creates over 60,000 jobs in Canada and the Unites States.
- Approximately 13,000 high paying union jobs in Canada in the
U.S.
For additional information on the project, visit
Keystone-XL.com
About TC EnergyWe are a vital part of everyday
life - delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our more than 7,300 people make a
positive difference in the communities where we operate across
Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis
release contains certain information that is forward-looking and is
subject to important risks and uncertainties (such statements are
usually accompanied by words such as "anticipate", "expect",
"believe", "may", "will", "should", "estimate", "intend" or other
similar words). Forward-looking statements in this document are
intended to provide TC Energy security holders and potential
investors with information regarding TC Energy and its
subsidiaries, including management's assessment of TC Energy's and
its subsidiaries' future plans and financial outlook. All
forward-looking statements reflect TC Energy's beliefs and
assumptions based on information available at the time the
statements were made and as such are not guarantees of future
performance. As actual results could vary significantly from the
forward-looking information, you should not put undue reliance on
forward-looking information and should not use future-oriented
information or financial outlooks for anything other than their
intended purpose. We do not update our forward-looking information
due to new information or future events, unless we are required to
by law. For additional information on the assumptions made, and the
risks and uncertainties which could cause actual results to differ
from the anticipated results, refer to the Quarterly Report to
Shareholders dated April 30, 2020 and the 2019 Annual Report filed
under TC Energy's profile on SEDAR at www.sedar.com and with the
U.S. Securities and Exchange Commission at www.sec.gov.
About Natural Law EnergyNatural Law Energy is a
Treaty alliance of Nations from traditional territories of Treaty
No. 4, Treaty No. 6 and Treaty No. 7. The partner First Nations and
Tribes that are proactively advancing new economic growth and
opportunities for our people for generations to come. In doing so,
NLE follows our traditional governance to create a path and leave a
handprint that is paramount with our natural laws for generations
to come.
TC Energy Media
Inquiries:Terry Cunha403.920.7859 or 800.608.7859
TC Energy Investor & Analyst
Inquiries:David Moneta / Hunter
Mau403.920.7911 or 800.361.6522
Natural Law Energy
Media Inquiries:Travis
Meguinisinfo@naturallawenergy.comwww.naturallawenergy.com
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