Suncor Energy Inc.

Suncor Energy Inc. in connection with the formation of Astisiy Limited Partnership to acquire TC Energy’s interest in the Northern Courier Pipeline Limited Partnership


Suncor Energy Inc.




Mergers and Acquisitions

Date Closed



Lead Office



On September 16, 2021, Suncor Energy announced formation of Astisiy Limited Partnership consisting of eight Indigenous communities in the Regional Municipality of Wood Buffalo to acquire TC Energy’s 15% equity interest in the Northern Courier Pipeline Limited Partnership. The unprecedented partnership consists of Suncor, three First Nations and five Métis communities and is expected to provide long-term, stable annual gross revenues of approximately $16 million to benefit the eight communities. The Indigenous communities’ participation in the transaction is funded by a loan guarantee of up to $40 million from the Alberta Indigenous Opportunities Corporation.

Suncor Energy Inc., headquartered in Calgary, is Canada’s leading integrated energy company.

Osler, Hoskin & Harcourt LLP advised Suncor Energy Inc. with a team consisting of Frank Turner, Kelsey Armstrong (Corporate), Martha Martindale (Financial Services), Shaun Parker (Litigation), Kaeleigh Kuzma, Gajan Sathananthan and Reba Nauth (Competition).