By 250 News, December 17, 2010
Kitamaat Village, B.C. – It’s a very big early Christmas present for Haisla Nation.
The First Nation has sold its option to purchase a major stake in the Kitimat Liquefied Natural Gas Project for $50 million U.S. The equity option was bought up by KMLNG, leaving Apache Canada and EOG Resources as the sole owners of the North Coast LNG terminal project.
Chief Councillor Dolores Pollard says the sale provides an immediate and substantial benefit for the Haisla in addition to the annual lease and tax payments that First Nation will receive from the terminal to be built on reserve land at Bish Cove. Pollard says the Haisla look forward to a long-term relationship with KMLNG.
Members of the First Nation will be receiving cheques for $8000 in the coming days. Kitamaat Village Council has picked a money management team with a major Canadian financial institution to look after monies in the short term while the Council takes some time to develop a longer term investment strategy.
The Haisla will hold a community dinner celebrating the go-ahead of the $4 billion dollar project next month in Kitamaat Village.
