Hereditary chiefs of the Wet'suwet'en First Nation of B.C. have written an open letter to
"We are aware that (Coastal GasLink) is pursuing Phase 2 of the project alongside LNG Canada, seeking to build additional compressor stations as part of a plan to increase capacity of the pipeline," states the letter sent to 12 major banks and 49 institutional investors and pension funds.
"Wet'suwet'en Hereditary Chiefs oppose and do not give consent to build these compressor stations and will pursue avenues to challenge these permits and construction."
The Coastal GasLink pipeline, which was designed to transport natural gas from
In the winter of 2020, protesters blockaded freight and passenger rail services across
The company confirmed Tuesday it is engaged in discussions to refinance a portion of its existing construction loan through private bond sales, though a spokesperson declined to disclose the size of the bond offering. The company said the proceeding is part of the "normal course" of post-construction project financing.
"We believe the strong interest in this bond deal speaks to the nation-building importance of this project," a
While the Wet'suwet'en hereditary chiefs, who are not elected, have been staunch opponents of Coastal GasLink, all 20 of the elected Indigenous groups along the 670-km pipeline route supported the project. The majority signed agreements with
"When activists call for the end of investments in Canadian LNG, these are the opportunities they are taking away from our communities," Ogen wrote.
But the hereditary chiefs say two of the proposed compressor stations that would be a part of Coastal GasLink's Phase 2 would be located on their traditional territory. They said they have concerns about the proximity to important cultural sites, additional years of construction traffic and the long-term climate impact of expanding
They said they are calling on banks and investors to publicly announce a commitment to deny new debt financing to
This report by The Canadian Press was first published
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