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DELTA, BC – FortisBC Holdings Inc. (“FortisBC”) and Musqueam Indian Band (“Musqueam”) are announcing the signing of an agreement, which will result in the parties sharing benefits associated with the Tilbury LNG Projects (“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, and our shared desire to be true partners. Musqueam Chief Wayne Sparrow says sharing equity ownership in the Tilbury LNG Projects is an important step on the path to genuine partnership, “Musqueam is looking forward to being an equity partner […]
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