The Government of Newfoundland and Labrador, Nalcor Energy and Beicip-Franlab announced today that the “in place” oil and gas resource potential is 12 billion barrels of oil and 113 trillion cubic feet of gas for 2015 license round area in offshore Newfoundland and Labrador. “This is an momentous day for the future of Newfoundland and… Read More
Nalcor Energy released its 2015 second quarter update today. “Despite challenging global commodity prices, Nalcor’s businesses are performing well and the company is in a position of strength,” said Ed Martin, President and Chief Executive Officer. “We are continuing to invest in and grow Newfoundland and Labrador’s energy assets, which are now at more than… Read More
Ed Martin, President and Chief Executive Officer and Derrick Sturge, Vice President and Chief Financial Officer presented Nalcor Energy’s 2015 first quarter update today. “Over the past several years, Nalcor and the Province have made important investments in Newfoundland and Labrador’s valuable energy assets, including the provincial electricity system,” said Ed Martin. “As a result,… Read More
Members of the media are invited to attend Nalcor Energy’s 2015 first quarter financial call or live web cast on Thursday, May 14, 2015 at 1:00 PM. Ed Martin, President and Chief Executive Officer and Derrick Sturge, Vice President and Chief Financial Officer will present Nalcor’s 2015 first quarter financial update and highlight business accomplishments,… Read More
Nalcor Energy supports today’s announcement by the Canada- Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) to implement a scheduled land tenure system in the province’s offshore. “The new scheduled land tenure system announced today positions Newfoundland and Labrador with the leading exploration jurisdictions in the world,” said Jim Keating, Vice President, Nalcor Energy – Oil… Read More
Today Nalcor Energy was advised that the Government of Canada has released the Labrador‐Island Transmission Link from environmental assessment. Nalcor is currently reviewing the federal government’s response. “The environmental assessment process for the transmission project has included years of extensive research and consultation,” said Gilbert Bennett, Vice President, Nalcor Energy – Lower Churchill Project. “We’re pleased to be moving forward and will continue to engage with residents and stakeholders across the province during construction.” The approximately 1,100km Labrador‐Island Transmission Link will deliver electricity produced at the Muskrat Falls hydroelectric generating facility to the island of Newfoundland. The High Voltage direct current (HVdc) system is the first of its kind in the province, and includes 400km of transmission line in Labrador, with 700km on the island, as well as 35km of underwater cable that will cross the Strait of Belle Isle from Forteau, Labrador, to Shoal Cove, on the island. The review process for the transmission project was initiated in January 2009, when Nalcor registered the project with provincial and federal environmental regulatory agencies. Nalcor has conducted extensive environmental studies, including significant consultation with Aboriginal, regulatory and public stakeholders, to identify and mitigate potential environmental impacts of the transmission project. Federal release of the Labrador-Island Transmission Link from this process represents the conclusion of the environmental assessment process for the Lower Churchill Project. The transmission project was released from environmental assessment by the provincial government in June 2013. The generation project also underwent an environmental assessment and was released in March 2012. ‐30‐ Media Contact: Karen O’Neill Senior Communications Advisor, Lower Churchill Project e. koneill@nalcorenergy.com p.709.737.1427 c. 709.690.2012