Canada's Enbridge said on Thursday that Stonlasec8 Indigenous Alliance will buy a 12.5% stake in the pipeline operator's Westcoast system for C$715 million ($511.19 million), as Indigenous communities look to own stake in energy firms.

Enbridge Inc.'s Westcoast pipeline has been pumping natural gas through First Nations territories across British Columbia.

Enbridge Inc. plans to sell a stake in a natural gas pipeline system in British Columbia to Indigenous communities in a deal that will be financially backed by the Canadian government.