Natural gas from the Mackenzie Delta could be heading to southern Canada and the United States, and the aboriginal people in the area want a piece of the action . . . a big piece.

A meeting between native leaders and industry players has moved a pipeline down the MacKenzie Valley a step closer to reality.

In the 1970s, Justice Thomas Berger recommended a moratorium on such a natural gas pipeline, saying the aboriginal people weren't ready for that kind of development in their backyard.

But now, aboriginal leaders say they not only want the pipeline — they want to own it.

They're proposing a joint venture with at least 51 per cent aboriginal ownership. Aboriginal business leader Greg Nyuli says that may seem like great expectations, but he says anything is possible.

"I think that if we continue to work together, if we continue to build bridges with industry, with government, then we are going to reach those expectations," Nyuli said.

Petroleum industry leaders say the idea is possible, but the chiefs will need a lot of support to make it happen.

"If they could get the right guarantees in place, then that could potentially happen," said Ed Porter of Enbridge pipelines.

"But in order to finance the pipeline you'd have to have some substantial player guaranteeing that, whether that would be the federal government, whether it would be the major producers."

Aboriginal leaders have asked a working group to come up with a business plan.

After that, the chiefs will worry about finding the money to back the project.