QUESTION PERIOD — Ministry of Environment and Climate Change
Jeanne D'Arc Basin Exploration Drilling Project
March 3, 2022
Minister, there are 8 trillion cubic feet of proven gas reserves in the Jeanne d’Arc Basin off the coast of Newfoundland and Labrador. One trillion cubic feet of gas replaces 170 million barrels of oil.
There is a company in Newfoundland and Labrador that is proposing to produce and sell 3 trillion cubic feet of this liquefied natural gas, which is over 500 million barrels of oil to be replaced.
This partnership includes the Miawpukek First Nation on the Conne River, the project requires no drilling and it will use 100% renewable energy to liquify the gas for transport to Europe and markets around the world. In fact, for any Canadian energy product, this location is the shortest route to the key markets of Europe. Phase one of the project is estimated to cost $5.5 billion and take up to seven years.
Minister Guilbeault, are these Canadian investors wasting their time and their money?
Thank you for the question. I don’t think I insinuated in any way that was the case. Companies are free to develop the projects they think will be beneficial for them and their clients.
We have specific processes as to how this gets done in Canada, including new and improved impact assessment and public consultation processes. I imagine that once the project is ready, it will be submitted for environmental impact assessment and public consultation to Environment and Climate Change Canada. To my knowledge, this project hasn’t, but I can check with the department. If it has, I’m not familiar with it.
