Government and NOIA to hold joint initiative on the development of natural gas

Mines and Energy Minister Lloyd Matthews and Leslie Galway, President and CEO of the Newfoundland Ocean Industries Association (NOIA), announced today that government and NOIA will be hosting an offshore natural gas forum on September 30, 2002, in St. John�s. The event will include a seminar and luncheon on the development of our region�s natural gas resources.

The purpose of this event will be to examine the offshore resource potential of the province, evaluate and consider new technologies for gas development, and analyze market opportunities that could lead to early gas development offshore Newfoundland and Labrador.

Minister Matthews said that this conference will provide government with a valuable opportunity to hear from oil and gas industry players in Newfoundland and Labrador. "Several presentations and a panel discussion will take place with key stakeholders who are active in our offshore oil industry," said Minister Matthews. "Government will listen to the messages brought forward by our industry partners with great interest, and participate in the discussions in an effort to share ideas that will aid in the timely development of our natural gas resources.

"Government continues to seek out these constructive opportunities to discuss important resource issues affecting this province. I look forward to participating in this valuable conference and sharing information with our business partners in an effort to encourage further resource development in Newfoundland and Labrador."

"NOIA has faithfully maintained its interest and readiness for the timely development of our province�s natural gas resources offshore. Our Petroleum Research and Seminar Committee has been actively pursuing relevant topics that they expect will speak to our membership. We are delighted to join our provincial government in hosting a single joint event, entitled Natural Gas Forum: Defining the Opportunities, to provide information and discussion on this important piece of future business," said Leslie Galway.

Government and NOIA will continue to work together in promoting the responsible development of this province�s offshore petroleum resources.

Media contact:

Darrell Mercer, Department of Mines and Energy, (709) 729-5777
Lori Lee Oates, NOIA, (709) 758-6615

2002 08 16                                2:45 p.m.