TC Energy completes Indigenous investment deal in Coastal GasLink TC Energy Corp. has completed an investment deal giving five First Nations an economic interest in the Coastal GasLink pipeline, with a second transaction expected to close in the fourth quarter. CALGARY - TC Energy Corp. says it has completed an investment deal that gives five First Nations an economic interest in the Coastal GasLink pipeline. Under the agreement with the FN CGL Pipeline Limited Partnership, the Haisla Nation, Halfway River First Nation, McLeod Lake Indian Band, Saulteau First Nations and West Moberly First Nations have obtained an economic interest in the entity that holds TC Energy's limited partner interest in Coastal GasLink. The deal is the first of two planned Indigenous investment transactions related to Coastal GasLink. TC Energy says a second transaction is expected to close in the fourth quarter of this year.Coastal GasLink Capacity To Double With LNG Phase 2The company recently announced plans to double the existing capacity of the 670-kilometre Coastal GasLink pipeline, which feeds gas to LNG Canada, by adding new compressor stations and upgrading facilities. The decision came after LNG Canada announced a final investment decision to go ahead with the Phase 2 expansion of its facility in Kitimat, B.C. The completion of the investment deal is a significant milestone for TC Energy and its partners.The company is committed to working with Indigenous communities to create economic opportunities and promote reconciliation. The success of this deal will pave the way for future partnerships and investments in the region. The 670-kilometre Coastal GasLink pipeline is a critical component of the LNG Canada facility's operations. The pipeline feeds gas to the facility, which is a major player in the global LNG market.The expansion of the pipeline will increase its capacity and enable the facility to process more gas. The partnership between TC Energy and the five First Nations is a unique opportunity for the communities to benefit from the pipeline's operations. The deal provides the communities with a direct stake in the pipeline's revenue and decision-making processes. This partnership will foster a positive relationship between the communities and the energy company.TC Energy Reconciliation Deal Sets Industry PrecedentTC Energy's commitment to reconciliation and economic empowerment is evident in this investment deal. The company is working towards creating a more inclusive and equitable energy industry. The success of this deal will encourage other energy companies to follow suit and prioritize partnerships with Indigenous communities. Companies in this story: (TSX:TRP)