Bay du Nord must be developed now and

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Bay du Nord must be developed now and for our benefit: Parrott
Parrott is calling on the Minister of Industry, Energy, and Technology to support the prompt development of Bay du Nord and to ensure that it’s development supports Newfoundlanders and Labradorians.
Thursday, November 18, 2021

(November 18, 2021) – Lloyd Parrott, PC Official Opposition Shadow Minister of Industry, Energy, and Technology and MHA for Terra Nova, is calling on the Minister of Industry, Energy, and Technology to support the prompt development of Bay du Nord and to ensure that it’s development supports Newfoundlanders and Labradorians.

“Earlier this week in the House of Assembly, I asked the Minister about the progress of Bay du Nord and possible amendments to the framework agreement,” said Parrott.

“I asked these questions because it is my steadfast belief that the Bay du Nord offshore resource should be developed as promptly as possible and should be developed to provide Newfoundlanders and Labradorians with maximum employment and benefits. This means more local jobs and as much work as possible to be completed right here in this province.”

Parrott says the unique geography of the Bay du Nord field is internationally significant and the efforts to ensure a low-carbon project are trail-blazing for the future of the industry. Parrott says existing opportunities in the offshore must be part of the transition to a green economy, as the resources of today can be used to bridge a path to the economy of tomorrow.

“The Bay du Nord development is located 500 kilometres offshore and in 1,200 metre deep water. Because Equinor is striving to make this project Canada’s lowest emitting oil project, this deep-water development has the potential to be a world class facility. This development can help our industry achieve their target of net-zero emissions by 2050,” said Parrott.

“As businesses, politicians, and industries all around the world strive to reduce emissions, we need to realize that our oil and gas industry can play a leading role in emission reduction while providing jobs, royalties, and benefits to this province.”

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DavidMaher@gov.nl.ca

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