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).