Ministerial Statement: Minister Parrott Highlights Findings of Natural Gas Resource Assessment’s Second PhaseMinisterial Statement: Minister Parrott Highlights Findings of Natural Gas Resource Assessment’s Second Phase

The article reports that Triple Point Resources is proposing to store a strategic oil reserve in salt caverns in western Newfoundland, contingent on Ottawa's decision. It notes that the federal government, while currently exempting Canada from holding IEA stocks, is aware of energy storage proposals in Newfoundland and Labrador and welcomes proposals…

Newfoundland and Labrador released the second phase of the Jeanne d’Arc Basin resource assessment, identifying an additional 10.2 to 25.5 trillion cubic feet of recoverable natural gas in adjacent unlicensed areas, with a best estimate of 27.6 trillion cubic feet overall. Provincial officials said the findings signal potential for commercial development,…

The Newfoundland and Labrador government says it is moving forward with offshore natural gas development, releasing Phase II of the Natural Gas Resource Assessment of the Jeanne d’Arc Basin which, with Phase I, provides a clearer understanding of recoverable gas resources and supports commercial development. It also announced targeted consultations on a…

Newfoundland and Labrador released the second phase of a resource assessment for the Jeanne d’Arc Basin, estimating recoverable natural gas ranging from 8.1–11.3 Tcf in licensed areas and 10.2–25.5 Tcf in adjacent unlicensed areas, with a best estimate around 27.6 Tcf total. The government says the findings signal potential for commercial development,…

Newfoundland and Labrador released a study identifying 19.8 to 35.4 trillion cubic feet of offshore natural gas in the Jeanne d’Arc Basin, with a best estimate of 27.6 Tcf, potentially worth about US$400 billion on the European market. The government plans a feasibility and investment study, consultations on a new offshore natural gas regulatory regime,…

The Newfoundland and Labrador government released a plan to advance offshore natural gas development ahead of EnergyNL, citing the Jeanne D’Arc Basin as having significant potential. The project is valued at over $400 million, according to findings highlighted by NTV.