A Sask. First Nation is teaming with four Alberta First Nations to buy an equity stake in the Keystone XL pipeline.

The consortium of the Maskwacis Nations in Alberta made up of the Erminskin Cree Nation, the Montana First Nation, Saddle Cree Nation and the Louis Bull Tribe, and the Nekaneet First Nation in Saskatchewan signed a memorandum of understanding with TC Energy and Natural Law Energy, an Indigenous Treaty alliance to pursue the deal.

“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 president Chief Alan Francis said.

“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. Our goal was not to just build relationships with Indigenous groups along our right-of-way, but to build trusted partnerships,” Keystone XL president Richard Prior explained.

A formal agreement is expected to be completed by the fourth quarter of 2020.

(Photo: Keystone XL pipeline route. Courtesy of Alberta.ca)