Alberta Indigenous Opportunities Corporation is providing a $103 million loan guarantee for five Indigenous communities to acquire, collectively through a newly formed entity called Northern Lakeland Indigenous Alliance, approximately 43% interest in the Access NGL Pipeline System, operated by Wolf Midstream Canada LP, a leading Canadian owner and operator of midstream energy infrastructure in Western Canada, which is backed by Canada Pension Plan Investment Board (CPP Investments).
The five communities and leadership participating in this deal include Buffalo Lake Métis Settlement, Kikino Métis Settlement, Heart Lake First Nation #469, Saddle Lake Cree Nation and Whitefish Lake First Nation #128.
This transaction will provide these communities with steady, long-term revenue streams, as well as opportunities for reinvestment and capabilities to pursue additional profit-generating ventures.
“This is a proud moment for Wolf,” said Bob Lock, President and Chief Executive Officer of Wolf. “This partnership is a significant step as we evolve our existing relationships with Indigenous communities, helping create a foundation of long-term shared prosperity, stable and predictable cash flow and equity ownership for Indigenous communities in this important piece of energy infrastructure.”
The Access NGL Pipeline System is part of Wolf’s previously announced NGL North System and transports natural gas liquids from Wolf’s recovery facility located near Mariana Lake, Alberta, to Wolf’s feedstock separation facility located in Sturgeon County.
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