ST. JOHN'S – The Honourable Gary Lunn, Minister of Natural Resources, today said the Government of Canada will continue its strong support for the energy sector in Atlantic Canada. Speaking at the annual conference of the Newfoundland and Labrador Oil and Gas Industries Association, Minister Lunn praised NOIA members for the energy success of Newfoundland and Labrador.
"The Newfoundland and Labrador offshore is poised for strong growth in the future and our government is pleased to be part of this success," said Minister Lunn. "The Government of Canada is committed to fostering continued prosperity by supporting innovation and a competitive environment for the offshore."
The energy sector is becoming increasingly more important to this region. Newfoundland and Labrador's GDP growth rate is currently three times the national average, and the energy sector now accounts for a third of the province's industrial GDP.
Minister Lunn also announced the creation of the Atlantic Canada Energy Office. The office will engage in attracting investment in the offshore energy sector, improving trade and market development for supply companies in the region and enhancing coordination and support for energy science and technology.
"Today's announcement is an example of how our government is taking real action to support the growth of Atlantic Canada's dynamic oil and gas industry," said the Honourable Loyola Hearn, Minister of Fisheries and Oceans and Minister Responsible for Newfoundland and Labrador.
The Office will be located in St. John's and would co-locate existing federal resources and draw on the collaborative efforts of officials from both ACOA and NRCan.
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