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Petronas offers C$1 billion to native community to approve gas project
Petronas offers C$1 billion to native community to approve gas project

Petronas offers C$1 billion to native community to approve gas project

The Petroliam Nasional Bhd-led group planning a natural gas export terminal on Canada’s Pacific Coast is offering one aboriginal community C$1.15 billion ($950 million) over 40 years to approve the project.

The province is also offering more than $100 million worth of Crown land, or 2,200 hectares, for the First Nation community to do as they please.

The proposed deal is being seen as a groundbreaking new benchmark for sharing the wealth of energy extraction.

According to the Globe, the total worth of the package for the 3,600 members equates to about $320,000 a person.

Another incentive being offered includes funding for the pavement of local roads, as well as creating a fisheries compensation fund.

First Nations groups have previously gone on-record to say the proposed pipeline runs the risk of creating significant environmental harm to the salmon habitat in Flora Bank.

The TransCanada pipeline would carry natural gas from northeast B.C. to Pacific NorthWest’s proposed LNG export terminal on Lelu Island, near Prince Rupert.

The deal being proposed, which is contingent on federal environmental approval, would include an upfront payment of more than $20 million and increase to $50 million annually over the 40-year lifespan.

The Canadian Environmental Assessment Agency is expected to rule on the proposed project by September.

Agencies/Canadajournal




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