Nova Scotia Appreciates Newfoundland and Labrador Position on Gas Export Rules

ENERGY--Nova Scotia Appreciates Newfoundland and Labrador Position on Gas Export Rules

Nova Scotia Energy Minister Gordon Balser said today, July 18, he is pleased that Newfoundland and Labrador believes the current federal rules on petroleum exports are working.

In Halifax Lloyd Matthews, Newfoundland's Minister of Mines and Energy, told a gas industry conference that industry and government are well served by the current rules on exports.

The National Energy Board is hearing an application in Fredericton to change the rules on short-term gas exports. Nova Scotia's position is that the proposed change would add an unnecessary level of red tape and discourage investment in exploration and development.

"Nova Scotia believes the current rules and open market system are helping to develop oil and gas resources offshore Atlantic Canada," said Mr. Balser. "We appreciate the move by Lloyd Matthews to outline his province's position yesterday in Halifax."

Mr. Matthews addressed the Atlantic Gas Symposium on Wednesday, July 17.

"The National Energy Board has established rules which govern the import and export of our petroleum resources," he said. "These rules encourage the free marketplace and provide a stable framework in which to do business. Our province currently believes that both industry and government are well served by these rules."

"Nova Scotia is making similar arguments at the National Energy Board hearings in Fredericton," said Mr. Balser. "We welcome the position taken by Newfoundland and Labrador on this issue."

Nova Scotia is expected to formally present evidence at the National Energy Board hearing next week.