First Nation Capital Investment Partnership Teams Up With Enbridge to Advance CO2 Storage Solutions
Local Indigenous communities in Alberta to have ownership stake in future carbon transportation and storage projects
EDMONTON, Alberta, TREATY 6, February 3, 2022 /3BL Media/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) and the First Nation Capital Investment Partnership (FNCIP) have reached an agreement to advance the proposed Open Access Wabamun Carbon Hub (the Hub) west of Edmonton. The Hub is being developed as an innovative combination of carbon transportation and storage solutions to support recently announced carbon capture projects from Capital Power Corporation (Capital Power), Lehigh Hanson Materials Limited (Lehigh Cement), and potentially others.
Four Treaty 6 Nations – Alexander First Nation, Alexis Nakota Sioux Nation, Enoch Cree Nation and Paul First Nation – recently formed the FNCIP to pursue ownership in major infrastructure projects with commercial partners who share Indigenous values – the Hub is the FNCIP's first partnership. The Lac Ste. Anne Métis Community will also have an opportunity to pursue ownership in future carbon transportation and storage projects associated with the Hub.
"This path creates an opportunity to generate wealth, but more importantly it allows sustainable economic sovereignty for our communities. We are creating a healthy future for the next seven generations to thrive," said Chief of Alexander First Nation, George Arcand Jr. "We're looking forward to working with industry leaders who share our values of environmental stewardship and to collaborate with Enbridge on world-scale carbon transportation and storage infrastructure investments."
"We welcome the opportunity to partner with these Treaty 6 First Nations and the Lac Ste. Anne Métis Community as equity owners in the carbon transportation and storage projects being developed within the Open Access Wabamun Carbon Hub," said Colin Gruending, Executive Vice President and President, Liquids Pipelines with Enbridge. "We see Indigenous economic partnerships like this as critical to advancing reconciliation and delivering world-class projects."
Once built, the Hub will be among the largest integrated carbon transportation and storage projects in the world. Capital Power and Lehigh Cement's planned carbon capture projects represent an opportunity to avoid nearly four million tonnes of atmospheric CO2 emissions.
With support of local Indigenous groups, Capital Power, and Lehigh Cement, Enbridge has applied to develop the open access Hub through the Government of Alberta's Request for Full Project Proposals process.
About this collaboration
The four Treaty 6 First Nations involved in this collaboration represent, collectively, more than 10,000 on- and off-reserve members. Participating groups include:
Alexander First Nation is a Treaty 6 First Nation located west of Morinville, Alberta. Alexander First Nation has a mission to protect Inherent Treaty Rights through tactical initiatives, community enhancement, law development and continuous improvement.
Alexis Nakota Sioux Nation is a Treaty 6 First Nation located west of Edmonton. Alexis Nakota Sioux Nation focuses on protecting Inherent Treaty Rights, maintaining the community's culture, language, history, and customs, working with the Elders and staff to revive tribal laws, building businesses, generating capital, improving education services, advancing wellness and supporting equity, justice and the development of future generations.
Enoch Cree Nation is a Treaty 6 First Nation located on Edmonton's western border. Enoch Cree Nation has a mandate to work collectively towards an atmosphere of respect and trust for the community by providing opportunities, resources and programs that will enhance the quality of life for future generations to work and prosper.
Paul First Nation is a Treaty 6 First Nation located on the eastern shore of Lake Wabamun, Alberta (Wabamun Indian Reserve #133 A & B). Paul First Nation is a mix of Cree and Nakoda origin. Priorities of Paul First Nation include the ongoing development of land, fiscal, protection of the environment and human resources, seeking business and employment opportunities within the province and abroad for the benefit of members and the fair distribution of benefits and opportunities.
Enbridge Forward-Looking Information
Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge Inc. ("Enbridge" or the "Company") and its subsidiaries and affiliates, including management's assessment of Enbridge and its subsidiaries' future plans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as ''anticipate'', ''expect'', ''project'', ''estimate'', ''forecast'', ''plan'', ''intend'', ''target'', ''believe'', "likely" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements in this news release include statements with respect to Enbridge's proposed Open Access Wabamun Carbon Hub and its agreement with First Nation Capital Investment Partnership, including the characteristics and benefits thereof.
Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Assumptions regarding the expected supply of and demand for crude oil, natural gas, natural gas liquids and renewable energy, and the prices of these commodities, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for the Company's services. Similarly, energy transition, including the drivers and pace thereof, the COVID-19 pandemic, exchange rates, inflation and interest rates impact the economies and business environments in which the Company operates and may impact levels of demand for the Company's services and cost of inputs, and are therefore inherent in all forward-looking statements. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty. The most relevant assumptions associated with forward-looking statements on announced projects and projects under construction, including estimated in-service dates, include the following: the impact of litigation and government, regulatory and stakeholder actions and approvals on construction and in-service schedules; the availability and price of labour and construction materials; the effects of inflation and foreign exchange rates on labour and material costs; the effects of interest rates on borrowing costs; technology-related matters; and the impact of weather.
Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.
About First Nation Capital Investment Partnership:
This alliance is an entrepreneurial partnership between Alexander First Nation, Alexis Nakota Sioux Nation, Enoch Cree Nation, and Paul First Nation built on shared values. First Nation Capital Investment Partnership works together to pursue ownership in major infrastructure assets and projects. The vision is that First Nation Capital Investment Partnership will serve to create intergenerational wealth in our communities – ensuring a vibrant, healthy future for our Peoples.
About Enbridge Inc.
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which owns approximately 1,766 megawatts (net) in renewable power generation capacity in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com
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