The Kwanlin Dün First Nation is getting into the liquefied natural gas (LNG) business with a new investment agreement it signed Friday with the Yukon government.

Chief Doris Bill said the First Nation has first rights to access Yukon Energy's liquefied natural gas supply chain to develop a wholesale/retail natural gas facility to supply local transportation and heating markets.

She said the deal offers long-term financial returns for her community.

"Part of my job is to generate wealth for our community," Bill said. "We looked at this agreement, we did our due diligence on it, we hired an independent firm to look at the deal and we have concluded that this would benefit our community."

The agreement also means Kwanlin Dün can buy as much as 50 per cent of the Whitehorse Diesel-Natural Gas Conversion Project. In a news release, Brad Cathers, the minister responsible for Yukon Energy, said a final purchase agreement will be completed once the First Nation decides how much of the conversion project they want to buy.

The First Nation will also have contracting and job opportunities associated with site preparation for the LNG conversion project. The $36-million project was approved by territorial regulators last May.

Bill says although this deal involves the LNG industry, Kwanlin Dün remains opposed to fracking in its traditional territory.