Canada-Quebec Offshore Accord moves step forward

The Government of Canada estimates that the Gulf of St. Lawrence and surrounding areas have the potential for more than 39 trillion cubic feet of gas and 1.5 billion barrels of oil, based on preliminary geological studies of the area.

Greg Rickford, Canada’s Minister of Natural Resources, today tabled the Notice of Ways and Means Motion to introduce a bill to implement the Canada–Quebec Offshore Accord for the joint management of petroleum resources in the Gulf of St. Lawrence. According to the government’s statement, the move represents “an important milestone for responsible resource development in the Gulf of St. Lawrence.”

“Our government is proud to partner with the Government of Quebec on this historic legislation to establish joint management of offshore petroleum resources. The Accord will create jobs and economic growth and prosperity for Quebecers while ensuring the safe and environmentally responsible development of petroleum resources in the Gulf of St. Lawrence,” Greg Rickford
Canada’s Minister of Natural Resources said.

According to the government, the proposed legislation would ensure that Quebec will benefit from revenues, including royalties and many taxes and fees, derived from the development of oil and gas resources. Pierre Arcand, Quebec’s Minister of Energy and Natural Resources and Minister responsible for Plan Nord, introduced mirror provincial legislation in the National Assembly.

“The Government is committed to protecting the safety of both Canadians and the environment while preserving, protecting and creating Canadian jobs. The bill is a central part of the Government’s Responsible Resource Development Plan, through which it is taking action to create jobs, grow the economy and create long-term prosperity in Quebec and across Canada,” reads a statement by the government.

The 2011 Canada–Quebec Accord established two distinct phases of joint management. The bill covers the first or transitional phase in which the governments will establish a joint regulatory function. The second or permanent phase would be triggered by a commercial discovery of oil or natural gas resources and would see the creation of a joint independent offshore board.

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply