The first close is done. The second Nations group is not in
TC Energy Corporation (TSX: TRP, NYSE: TRP) said today it closed an agreement with FN CGL Pipeline Limited Partnership, an Indigenous-led vehicle for five First Nations on the Coastal GasLink corridor. The GlobeNewswire note is dated October 13. The Nations are Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations, and West Moberly First Nations. They obtain an economic interest in the entity that holds TC Energy's limited-partner interest in Coastal GasLink. The company said those communities are expected to see long-term, predictable returns tied to that interest. The release does not state a percentage.
This is the first of two planned Indigenous investment closes on CGL. A second transaction with additional First Nations is expected in the fourth quarter of 2026. Francois Poirier called it turning years of partnership into a long-term economic stake. Tim Hodgson, the federal energy minister, issued a supporting quote. Advisors on the TC Energy side were RBC Capital Markets and Blake, Cassels & Graydon.
Coastal GasLink already moves about 2.1 billion cubic feet a day to LNG Canada in Kitimat. The note repeats that Phase 2 would nearly double capacity. That Phase 2 decision was the September 29 file. Today's close does not put those compressors in the ground.
This is a closed economic-interest agreement on TC Energy's CGL limited-partner stake. It is not Phase 2 first gas, not a new pipe, and not Line 5.