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August 12, 1997
(Mines and Energy)

Minister releases report on province's energy sector

Charles J. Furey, Minister of Mines and Energy, today announced the release of a departmental technical report illustrating supply and demand data and trends in the province's energy sector.

"The province's energy sector has been growing steadily, and is poised for even further growth over the coming months and years," said Furey. Citing offshore oil production from Hibernia to begin in less than a year, other offshore production from the Terra Nova and Whiterose fields, electricity developments to supply both the Voisey's Bay mine/mill site and smelter/refinery complex, and the new electricity regulatory environment that can only help the eventual development of the Lower Churchill Projects in Labrador, the minister said the province has entered a new internationally focused phase of its energy development.

"The province is already a significant international energy player accounting for an equivalent of two-thirds of Canada's electricity exports and by 2004 will represent one-third of Canada's light crude oil production," says Furey. "It is in this context that planning and national and international energy sector comparison such as this are necessary."

The report provides a detailed historical data review of the Newfoundland and Labrador energy supply and demand, a comparison of Canadian provinces and global regions, and a section overviewing the Canadian and United States electricity sectors. The report will be of use to all involved in the energy business - producers, refiners, consultants, consumers and policy makers and analysts.

Furey added: "The report also provides all those involved in the energy business with a tool to look at production, consumption and trade of Newfoundland and Labrador energy by product."

The report is available for purchase from the Department of Mines and Energy at a cost of $50. Persons interested in purchasing a copy please call: Paul Parsons at (709) 729-5728 or Sue Taylor (709) 729-2765.

Contact: Tara Laing, Assistant Director of Communication, (709) 729-4890.