Newfoundland and Labrador considering public ownership stake in Bay du Nord project

Newfoundland and Labrador’s energy minister Andrew Parsons said this week that the province is looking at the possibility of public ownership in the proposed Bay du Nord offshore oil project. Parsons said that talks are ongoing with Equinor.

Environmental approval of the project has not yet been granted, but Canada’s Environment and Climate Change Minister Steven Guilbeault may announce a decision in March, according to CBC News. This, despite Fisheries Canada’s unfavourable review of Equinor’s environmental impact statement.

The company and its partners, Cenovus and BP, appear to be anticipating a positive outcome. An Equinor spokesperson said this week, for example, that planning for subsea components is ongoing.

“If [Bay du Nord] did go forward it would have a dramatic effect on our bottom line,” said Parsons. “And that’s something we always have to keep in mind. We have a province and a government to run and services to provide, and this plays a large role in that. To walk away from that, I don’t think would be fair to the citizens of this province.”

Kim Biggar

Kim Biggar started writing in the supply chain sector in 2000, when she joined the Canadian Association of Supply Chain & Logistics Management. In 2004/2005, she was project manager for the Government of Canada-funded Canadian Logistics Skills Committee, which led to her 13-year role as communications manager of the Canadian Supply Chain Sector Council. A longtime freelance writer, Kim has contributed to publications including The Forwarder, 3PL Americas, The Shipper Advocate and Supply Chain Canada.
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