Yellowknife (Feb 12/03) - A deal to finance aboriginal ownership of a Mackenzie Valley pipeline is close to being inked.

An article appearing in Monday's Edmonton Journal said a complex financing deal between TransCanada Pipelines Ltd. and the Aboriginal Pipeline Group (APG) was to be announced Thursday in Calgary by Robert Nault, Minister of Indian and Northern Affairs.

TransCanada, the APG and DIAND all deny that report.

Nault's office called the article "a misprint," but confirmed that Nault would be in Calgary to meet with a newspaper.

"Even if a deal was made, the announcement is not ours to make," said DIAND spokesperson Alaster Mullin.

APG spokesperson Megan Holsapple denied any deal was complete, but said the APG is close to an agreement.

"They are finalizing the deal, but is not done yet," Holsapple said.

Holsapple would not confirm that TransCanada and the APG are in negotiations over pipeline financing.

Glenn Herchak, spokesman for TransCanada Pipelines Ltd said, "There are talks going on between the APG and private companies." "We are considering the elements of that article as rumour or speculation and it's not our practice to comment on rumours or speculation," said .

"We've been in discussions with a number of stakeholders for several years now, including several aboriginal groups, including the Aboriginal Pipeline Group," Herchak said.