TC Energy and Natural Law Energy sign historic MOU facilitating one of the largest Indigenous equity investments of its kind in North American infrastructure
Investments to include Keystone XL and other future TC Energy projects
CALGARY, Alberta, Sept. 29, 2020 (GLOBE NEWSWIRE) -- 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 Energy
We 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 INFORMATION
This 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 Energy
Natural 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 Cunha
403.920.7859 or 800.608.7859
TC Energy Investor & Analyst Inquiries:
David Moneta / Hunter Mau
403.920.7911 or 800.361.6522
Natural Law Energy Media Inquiries:
Travis Meguinis
info@naturallawenergy.com
www.naturallawenergy.com
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