24 March 2011

Feds, Quebec announce joint deal on offshore resources

Natural Resources Canada news release:

“The Honourable Christian Paradis, Minister of Natural Resources, and Nathalie Normandeau, Quebec Deputy Premier, Minister of Natural Resources and Wildlife and Minister responsible for the Northern Plan, today announced that the Governments of Canada and Quebec have reached an important accord on the development of oil and gas resources in the Gulf of St. Lawrence.

"This is an important day that is the result of a great deal of hard work," said Minister Paradis. "Under a co-management framework, Quebec will derive significant financial benefits from resource-related activities. This accord is a concrete example of the two Governments collaborating to create jobs, energy security and economic opportunity in resource communities in the regions of Quebec and Canada. The Government of Canada will continue to work with Quebec to ensure the responsible and sustainable development of our natural resources."

"This is an historic day for Quebec. After more than 12 years — and thanks to the tremendous work of our two governments — we are very proud to announce that the Province of Quebec has an agreement that will give us 100 percent of the revenues from the development of our oil and gas in the Gulf. It's truly a great day for Quebec," said Minister Normandeau.

The Quebec government is undertaking a strategic environmental evaluation before allowing the development of oil and gas in the Gulf of St. Lawrence. The results of this evaluation will be known in 2012.

Since 2006, the Governments of Canada and Quebec have achieved several milestone collaborations. The accord is a key element in the continuation of that work.

The accord will be implemented by means of mirror legislation that will be tabled by the federal and provincial governments before the Parliament of Canada and the National Assembly of Quebec. The accord will be implemented in steps, and rigorous environmental assessments will be conducted before any oil and gas development begins.”

- srbp -