Montreal,Quebec February 9, 2009 – On January 27 of 2009, the Qiniqtiq Landholding Corporation of Kangiqsualuujjuaq, the Nayumivik Landholding Corporation of Kuujjuaq and the Tuvaaluk Landholding Corporation of Quaqtaq have purchased from Shell Canada Products the fuel reservoirs and installations located in their respective communities. Change of control will take effect during the week of February 16. It is with pride that the concerned landholding corporations and the Fédération des Cooperative du Nouveau-Québec (FCNQ), with the assistance and support of Makivik Corporation, collaborated to design unique comprehensive agreements that will see a new subsidiary company of the FCNQ, called FCNQ Petro Inc., as the operator of the said three fuel depots.
The Inuit of Nunavik had a very good business relationship with Shell Canada Products for many years and are now moving forward into having an Inuit run establishment to own, manage and operate the Quaqtaq, Kuujjuaq and Kangiqsualujjuaq facilities. This collaboration between local and regional partners is another example of Inuit taking control over their resources and territory. The President of Makivik Corporation Pita Aatami qualified this deal as being “A milestone in the excellent political and business relationship that’s being built between the FCNQ, Makivik and the communities.”
The President of FCNQ Uqituk Ammamatuak added “The FCNQ has provided petroleum services to the residents and organizations of Nunavik for the last 28 years now and was able to develop the expertise that you see in this important field. Signing this contract today, represents a close working relationship with all our business partners for the next 20 years. Again, thank you for the trust and the co-operation you have shown us to ensure the success of Petroleum Services in Nunavik.”
For additional info:
Secretary of the Board
514.457.9371 ext. 312
St-Laurent, Qc H4M 2X6
514.745.8880 ext 215