EAST TANK FARM EQUITY ARRANGEMENT

Energy Council of Canada

Published

4 years ago

5 minute read

EAST TANK FARM EQUITY ARRANGEMENT

In the fall of 2017 Suncor, Fort McKay First Nation (FMFN) and Mikisew Cree First Nation (MCFN) announced the completion of the acquisition by FMFN and MCFN of a 49 per cent interest in the East Tank Farm Development (ETFD) valued at approximately $500 million. The two First Nations independently financed the acquisition, with the offering structured and marketed by RBC Capital Markets.

The agreement is unprecedented in size and scale for the First Nations and Suncor and is part of a growing trend of Indigenous communities as equity owners. The investment will provide a steady stream of revenue to both FMFN and MCFN for a minimum period of 25 years. Located 35 kilometres north of Fort McMurray, the ETFD provides storage, cooling and blending services for bitumen received from Fort Hills.

At a signing ceremony on Nov. 22, 2017, Suncor, Fort McKay First Nation (FMFN) and Mikisew Cree First Nation (MCFN) announced the completion of the acquisition by FMFN and MCFN of a 49 per cent interest in Suncor’s East Tank Farm Development (ETFD).

The two First Nations independently financed the acquisition, with the offering structured and marketed by RBC Capital Markets. The agreement is unprecedented in size and scale for the First Nations and Suncor and is part of a growing trend of Indigenous communities as equity owners.

“We’ve completed a historic deal for energy development in Canada. This unique partnership has been part of a journey that demonstrates how innovative thinking and collaborative spirit can result in a mutually- beneficial opportunity and it has changed the way Suncor thinks about how our Aboriginal neighbours may participate in energy development,” said Mark Little, president, Upstream, at the time of the signing and now Suncor’s president and CEO. “Through this partnership we’ve learned a lot about working together to create something significant, and I look forward to continuing to work together on this joint investment with Fort McKay First Nation and Mikisew Cree First Nation for many years to come.”

The agreement is held in a limited partnership with Suncor called Thebacha, the Dene word for “river.” The investment will provide a steady stream of revenue to both FMFN and MCFN for a minimum period of 25 years.

“The economic benefits generated from this deal will help our Nation to build capacity within our businesses, develop infrastructure in our community, fund social economic programs, and provide us with the means to help pay for education and training for our youth, and will be felt in our community for generations to come,” says MCFN Chief Archie Waquan.

Located 35 kilometres north of Fort McMurray, the ETFD is part of the existing East Tank Farm and adjoins the Hot Bitumen Terminal (HBT) and its associated tanks. Once Fort Hills begins to produce bitumen, the ETFD will receive the Fort Hills hot bitumen via the Northern Courier Pipeline.

“The deal represents one of the largest business investment to date by First Nation entities in Canada, and not only demonstrates the great potential for partnerships between First Nations and industry but serves as a model for how First Nations can achieve greater self-determination through financial independence,” said, FMFN Chief Jim Boucher, Chief at the time of the signing. “It is an example of how First Nations and natural resource development companies can find ways to support each other for the mutual long-term benefits.”

Thanks to Todayville for helping us bring our members’ stories of collaboration and innovation to the public.

Click to read a foreward from JP Gladu, Chief Development and Relations Officer, Steel River Group; Former President and CEO, Canadian Council for Aboriginal Business.

JP Gladu, Chief Development and Relations Officer, Steel River Group; Former President & CEO, Canadian Council for Aboriginal Business

Click to read comments about this series from Jacob Irving, President of the Energy Council of Canada.

Jacob Irving, President of Energy Council of Canada

The Canadian Energy Compendium is an annual initiative by the Energy Council of Canada to provide an opportunity for cross-sectoral collaboration and discussion on current topics in Canada’s energy sector. The 2020 Canadian Energy Compendium: Innovations in Energy Efficiency is due to be released November 2020.

Energy Council of Canada

www.energy.ca/

The Energy Council of Canada brings together a diverse body of members, including voices from all energy industries, associations, and levels of government within Canada. We foster dialogue, strategic thinking, collaboration, and action by bringing together senior energy executives from all industries in the public and private sectors to address national, continental, and international energy issues.

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Alberta

Constitutional lawyer spearheading separation from Ottawa urges Albertans to lobby Premier Smith for referendum

Published on March 18, 2025

Todayville

Jeffrey Rath

FREE ALBERTA NOW!

If one recalls their history, revolutions have started over the rallying cry of “no taxation without representation.”

The facts referred to below were provided by a, well educated, fellow Albertan who has culled these facts and statistics from available public records.

In Canada, of the 338 Members of Parliament, Alberta gets 34 MPs. If Alberta received the MP per population ratio of the Maritime provinces, it would get 63 MPs. If Alberta followed the formula for the “Province of Prince Edward Island” it would have 107 MPs.

Representation in the Senate is more fair to regions than the House of Commons, but Senators are not elected (as requested by western provinces), they are appointed by the Prime Minister and they serve until age 75 with no term limits. As the Liberals have formed government more often than Conservatives, the Senate is dominated by Liberals bent on hollowing out the economy of Alberta for the benefit of non-Albertans.

The makeup of the Supreme Court discriminates against Alberta; of 9 judges, Quebec and Ontario get 6. Alberta seldom receives fair settlements from the Supreme Court (all 4 western provinces get only 2 Justices)

Alberta sends $3 Billion annually more to Ottawa for the pension plan than it gets back in benefits.

In federal taxes, Alberta sends over $60 billion per year to Ottawa, and gets less than half of that back in “services”. These so called “services” include a Firearms Registry that exists only to strip Albertans of their rights to own personal property. Most so called “federal services” are seen by most Albertans as either being completely unnecessary or easily replaced by Alberta Government employees within current staffing levels.

Under the Equalization program Alberta has transferred at least $700 billion to Eastern Canada (2/3 to Quebec), and Quebec is guaranteed to receive $10 billion in payments per year regardless of Alberta’s fiscal status on an annual basis.

An interesting side note is regarding the Equalization program. Alberta, as a “have” province, gives Billions of dollars annually to “have not” provinces. In fact, Quebec and New Brunswick have huge natural gas reserves. Bureaucrats in those provinces decide it’s easier to receive welfare payments from Alberta than to develop and sell their own resources. The financial revenue is the same, but Equalization does not generate jobs. Residents of those provinces would benefit immensely from Alberta taking itself out of the present system.

Albertans are over taxed, over governed and over regulated by politicians that are clearly hostile to the interests of Alberta and the interests of the citizens of the soon to be independent Commonwealth of Alberta.

The day that Alberta leaves Canada Albertans will no longer be subject to Canadian Federal Income Tax, Carbon Tax, Excise Tax, Capital Gains Tax, Goods and Services Tax and all other Federal Levies and Tariffs including the dairy monopoly and price fixing scheme imposed by Ottawa on Alberta Farmers, Ranchers and Indigenous People. An Additional 60 BILLION a year in tax revenue will remain in Alberta kicking off economic growth in Alberta unseen in Alberta’s history. Alberta’s independence will create an independent Commonwealth with the highest GDP per capita of any country in the world. Albertans will be finally free from all of the debt and over taxation created by idiotic politicians from Quebec and Ontario who literally believe that punitive taxes on working Alberta families will change the weather.

Albertans will enjoy at LEAST a 30% jump in their standard of living and savings as a result of no longer having to support ungrateful, greedy politicians in Quebec, Ontario who take their marching orders from the self proclaimed “Laurentian Elite” and the World Economic Forum.

Every Albertan who cares about the prosperity of their family needs to write Premier Danielle Smith and request that she consult be with the Alberta Prosperity Project as to the form of the referendum question and set a referendum on independence PRIOR TO THE 15th of December of 2025.

Adult citizens of Alberta need to be allowed to vote THIS YEAR in a referendum to express their will as free, adult citizens as to whether they wish to continue to be misgoverned by politicians more beholden to foreign (non-Alberta) interests than they are to the interests of Alberta Families.

Jeffrey R.W. Rath B.A. (Hons.), LL.B. (Hons.)

Foothills, Alberta

March 17, 2025

Alberta

Premier Danielle Smith calls for federal election

Published on March 14, 2025

Government of Alberta

Premier Danielle Smith issued the following statement on the swearing in of Canada’s 24th Prime Minister and his new federal cabinet.

“Now that Prime Minister Mark Carney has been officially sworn in, his first item of business should be to call a general election.

“I am extremely concerned that this cabinet includes most of same ministers responsible for the most damaging government policies levelled by Ottawa against Alberta in our over 100-year history. We are gravely concerned that plans to significantly increase the industrial carbon tax will be just as damaging to Alberta’s economy as the consumer carbon tax has been.

“The Prime Minister also has not yet condemned harmful policies such as:

The proposed emissions cap which continues to threaten our energy sector.
Bill C-69 which still hampers critical infrastructure projects.
Failed bail policies which continue to put our communities at risk, undermining the safety and security that Albertans deserve.
Gun bans that target law-abiding hunters and sport shooters.
Open border policies which are allowing over two million people per year to enter Canada.
The plastics ban which puts billions of dollars of investment and thousands of jobs at risk.
Bill C-59 which bans businesses from communicating about their environmental goals.
The electric vehicle mandate which calls for 100 percent of new vehicles sold to be electric by 2035.
The Sustainable Jobs Act, which aims to transition energy workers to a net zero economy as they work to shut down the energy sector.

“Our province has always been a leader in innovation, economic growth, and responsible resource development. We will continue to stand up for our industries, push back against policies that unfairly target Alberta, and fight for a fair deal within Confederation.

“The Prime Minister must put Canada first and call an election immediately to ensure that whoever is leading this country has a four year mandate from all Canadians, especially in light of the ongoing tariff conflict with the U.S.”