A deal touted as Canada’s largest equity purchase by an Indigenous partnership may not be completed as planned because of an undisclosed snag at TC Energy Corp. TRP-T, which had previously agreed to sell the minority stake in its Alberta gas pipeline network.

François Poirier, TC Energy’s chief executive officer, said on Tuesday that a deal with the partnership may take some form other than the $1-billion divestiture the company announced in July. The company had disclosed in September that the sale of the Nova Gas Transmission Ltd. and Foothills pipeline systems stake was delayed “due to an identified transaction structuring issue” at the pipeline ownership level.

“So we’re back to the drawing board and working very hard with the communities to come up with a solution, but it may come in a form that’s different from an outright equity ownership interest,” Mr. Poirier said on Tuesday in response to an analyst’s question at TC Energy’s analyst and investor day event. He did not elaborate on a potential new arrangement.

Oil prices slipped on Wednesday as investors weighed the intensifying war between major oil producer Russia and Ukraine, and a rise in U.S. crude and gasoline stocks.

Brent crude futures for January were down 46 cents, or 0.63 per cent, at $72.85 a barrel by 1:03 p.m. ET (1719 GMT).