Northern Gateway president reacts to Canadian Press report

Northern Gateway President John Carruthers has come out swinging against a Canadian Press report on equity offers to First Nations.

Northern Gateway President John Carruthers has come out swinging against a Canadian Press report that he feels “contains a number of errors and leaves readers with a fundamental misunderstanding of Enbridge’s engagement efforts with these [Aboriginal] communities.”

The Canadian Press report dealt with critics of an equity package to First Nations from Enbridge for a 10 per cent stake in the Northern Gateway Pipelines project.

The report, by Dene Moore, quoted Chief Rose Laboucan of the Driftpile Cree Nation near Edmonton, who said that only “minimal economic benefits were offered.”

In response to the entire news article, Carruthers counters that “at the core of the equity agreements is our commitment to providing meaningful economic benefits to Aboriginal communities while minimizing potential risks to these communities.”

He said the funding structure for the equity participation provides “no-risk” investment and does not require them to provide any of their own funds to participate.

“Enbridge also agreed to offer and arrange financing at terms and rates for these communities that may not otherwise be available. This financing arrangement is one option and each participating community has been free to explore their own financing arrangements and make such decisions appropriate to their own desires,” he continued.

He also said that direct ownership through the equity packages could provide an estimated $230,000 a year for each community for the first 30 years.

That is in contrast to the Canadian Press report which said, based on legal assessments in 2011, at least one band might only get just over $70,000 a year.

“All told, the Aboriginal benefits will be near $1 billion over the life of the project,” said Carruthers.

The Canadian Press report can be found, among other places, here.

Just Posted

New Coast Guard radar boosts marine traffic monitoring off B.C. coast

Six radar installations set up for Georgia Strait to Queen Charlotte Strait to Prince Rupert

B.C. Legions in need of young members to continue aiding veterans into the future

Lest we forget what thousands of men and women did to fight for Canada’s freedoms – but without new membership, many Legion chapters face dwindling numbers

Kitimat commits itself to the global fight against polio

Mayor Phil Germuth signs a proclamation

$2 million landfill capping complete

The purpose is to minimize potential leaching of contaminants from the site.

Pipeline company urges rejection of many seeking intervener status in jurisdictional hearings

Those seeking to participate include District of Kitimat and Haisla Nation

Winter weather hits parts of Canada

As some parts of the country brace for cold, parts of B.C. remain warmer than 10 C

Canada’s health system commendable overall but barriers to care remain: UN

The United Nations says Canada’s health care system is “commendable” overall but vulnerable groups still face barriers to quality care.

Unique technology gives children with special needs more independent play

UVic’s CanAssist refined seven prototypes aided by $1.5M government contribution

Kelly Ellard’s boyfriend has statutory release revoked

Darwin Duane Dorozan had several parole infractions that found him ‘unmanageable’

Doctor’s note shouldn’t be required to prove you’re sick: poll

70% of Canadians oppose allowing employers to make you get a sick note

German-born B.C. man warns against a ‘yes’ vote on proportional representation

Agassiz realtor Freddy Marks says PR in his home country shows party elites can never be voted out

Fashion Fridays: 5 coats you need this winter!

Kim XO, lets you know the best online shopping tips during Fashion Fridays on the Black Press Media Network

Saskatchewan college honours memory of Humboldt Broncos coach

Darcy Haugan wore jersey No. 22 when he was a star player with the Briercrest College Clippers

Liberals to act quickly if Saturday midnight deal deadline breached: source

Oh Friday, Canadian Union of Postal Workers said it would not bring the latest offers to a vote of its members

Most Read