CanNor Funding: $300,375
Government of Yukon Funding: $35,000
Vuntut Gwitchin Limited Partnership: $33,375
Total Funding: $368,750
The Canadian Northern Economic Development Agency (CanNor) is investing $300,375 over two years to support a feasibility study and business plan to assess the viability of future oil and gas development in the Eagle Plain region of Northern Yukon.
The Eagle Plain region of Northern Yukon has vast untapped natural gas and petroleum resources with estimates of more than six trillion cubic feet of natural gas as well as more than 400 million barrels of oil. Developing these resources could provide an additional source of affordable energy to the territory, and potentially reduce the amount of diesel fuel imported into Yukon to generate electricity. This could create an opportunity for the supply of natural gas or electrical energy to mining operations and businesses. It could also lead to the supply of heat and electrical power to the residents of Yukon.
To determine the viability of a project to develop these resources, CanNor is providing funding to the Vuntut Gwitchin Limited Partnership, the lead on the project on behalf of the North Yukon Economic Partnership (NYEP). NYEP includes the four First Nations of Vuntut Gwitchin, Tr'ondek Hwech'in, Nacho Nyak Dun and Gwitch'in Tribal Council.
Should the feasibility study and business case result in a positive analysis, a future project to develop these resources would create significant employment, educational and business opportunities for Yukoners, and particularly for those First Nations involved.
This investment is made possible through CanNor's Strategic Investments in Northern Economic Development (SINED) initiative, which focuses on long-term economic growth, economic diversification and capacity building in all three territories.
SINED is one of several economic development initiatives within CanNor. CanNor is responsible for coordinating and delivering Canada's economic development across the North, and for related policy development, research and advocacy.
