FortisBC Holdings and Musqueam Indian Band have signed an agreement which will result in the parties’ sharing benefits associated with the Tilbury LNG Projects.
The agreement will see Musqueam and FortisBC working in close collaboration as the Projects are developed, including the Tilbury Marine Jetty. A shared goal of this agreement is to develop a world-leading LNG facility that will result in beneficial outcomes for Musqueam and the region, while improving the overall quality of these projects.
In recent years, Musqueam and FortisBC have worked to develop a mutually beneficial relationship. The Tilbury LNG Projects Agreement is a direct result of this relationship. It includes options, subject to regulatory approvals and certain conditions precedent, for Musqueam to acquire equity ownership in the proposed Projects. This includes the Tilbury LNG Storage Expansion Project and the Tilbury Marine Jetty Project. The equity options recognize the important relationship between FortisBC and Musqueam.
Wayne Sparrow, Musqueam Indian Band’s elected chief, said: “Musqueam is looking forward to being an equity partner with FortisBC at Tilbury, on the shore of the Fraser River, in the heart of Musqueam territory. For thousands of years, Musqueam has lived along a trading route and supported trade in the region. Through our relationship with FortisBC, we are building on this strength while being leaders in energy stability and ensuring benefits for future generations.”
This agreement is in addition to the project mitigations that have been or will be implemented as part of the Tilbury LNG Projects’ regulatory processes. Musqueam will continue to work with FortisBC and regulators to ensure Musqueam’s interests are addressed.
Roger Dall’Antonia, FortisBC president and CEO, said that the Tilbury LNG facility is ideally positioned to meet market opportunities, and that the Projects will elevate Tilbury’s role in the global transition to lower carbon energy.
Mr Dall’Antonia said: “Tilbury is powered by renewable hydroelectricity, which means it can produce LNG that is nearly 30 percent less carbon intensive than the average global LNG. We value our long-term relationship with Musqueam, and I am pleased we have the opportunity to advance these projects in full partnership with Musqueam. We look forward to continuing our collaboration with Musqueam as the Projects are developed.”
For more information visit www.fortisbc.com
