Sylvie Claire / April 7, 2022
The government of Canada, the world's fourth largest oil producer, has given the go-ahead for the construction of a controversial major oil project in the Atlantic Ocean, Canadian Environment Minister Steven Guilbeault announced Wednesday.
This project, named Bay du Nord and carried for years by the Norwegian giant Equinor, will exploit an oil deposit more than one kilometer deep, 500 kilometers off the coast of Newfoundland. The project is scheduled to begin production in 2028.
The Bay du Nord project can proceed, subject to some of the most stringent environmental conditions ever imposed, including the historic requirement for an oil and gas project to be carbon neutral by 2050, said the minister and former climate activist.
A thorough environmental assessment of the project found that it is not likely to cause significant adverse environmental effects, the minister added. The dilemma on this project, considered by environmentalists as a real environmental test for Justin Trudeau's government, was such that the decision was postponed twice in recent months.
This will be the fifth oil platform of its kind in Canada and will allow the extraction of approximately 300 million barrels of oil over 30 years, according to the company.