Thursday, July 17, 2025

Latest

Nova Scotia Restarts Offshore Gas Bids After 2023 Veto

Nova Scotia has swung the door back open to offshore natural gas drilling. Last week, the province launched a formal call for bids on parcels southeast of Sable Island, inviting companies to explore reserves once tapped by the Deep Panuke and Sable projects.

“We’re ready to do it again. It’s time to unlock Nova Scotia’s potential,” Premier Tim Houston declared on X, arguing the resource “has the potential to support good-paying jobs while generating revenue to build up Nova Scotia’s economy.”

The new invitation represents an about-face from December 2023, when Halifax and Ottawa jointly vetoed Exploration Licence 2437 after the Canada-Nova Scotia Offshore Petroleum Board had already approved it. At the time, both governments said their decision must “account for broader policy considerations, including our shared commitments to advance clean energy.”

The pivot signals a recalibration of federal provincial priorities. Clean energy ambitions remain intact as Bill C-49 still seeks to expand the board’s mandate to cover offshore wind, but policymakers now appear willing to finance that transition with near-term gas royalties.

Nova Scotia’s two legacy fields generated almost $4 billion in provincial revenues over their lifetimes; even a fraction of that could fund hospitals, schools, and grid upgrades without new taxes.

However, Ottawa’s climate targets and Nova Scotia’s emissions caps will potentially keep a spotlight on any drilling program’s carbon profile so regulatory certainty against today’s tight Atlantic LNG market isn’t still as certain as it could be.


Information for this story was found via the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Reports Aznalcollar Public Tender Trial Hearings Have Concluded, Verdict Expected This Fall

Antimony Resources Completes 16 Hole Drill Program At Bald Hill Antimony Project, Assays Pending

Related News

Elon Musk Calls For Increasing Domestic Oil And Gas Output Immediately

The oil and gas sector has found an unlikely ally as of last night. In...

Saturday, March 5, 2022, 11:03:00 AM

Altus Midstream Plunges After Announcing a Reasonable Merger Agreement

On October 21 after the close, Altus Midstream Company (NASDAQ: ALTM), an energy company which...

Sunday, October 31, 2021, 01:30:00 PM

Natural Gas: Soaring European Prices Have Created An Eye-Popping Commodity Arbitrage

The quadrupling in European natural gas prices over the last 2 ½ months, coupled with...

Saturday, August 27, 2022, 09:00:00 AM

Topaz Energy Sees BMO Resume Analyst Coverage

On June 8th, Topaz Energy Corp. (TSX: TPZ) had a flurry of news releases. The...

Friday, June 11, 2021, 04:16:00 PM

Germany Unveils Plan To Cap Energy Prices Making Battling Inflation Tougher

Germany joined the UK in bowing to populist pressure to do “something” to relieve the...

Sunday, October 2, 2022, 01:17:00 PM