The provincial government has offered to buy a 15 per cent equity stake in the Terra Nova oil project to help save it from being scrapped.
The offer is spelled out in a briefing note prepared for the energy department late last month after lead operator Suncor announced there was still no deal to restart the project.
The document, distributed to media by the Opposition Tories, notes the government had already committed $450-million to the project, made up of $175-million from the oil and gas fund plus changes to the royalty structure.
Asked about the briefing note today, Energy Minister Andrew Parsons would neither confirm nor deny the offer to buy the equity stake, citing the sensitivity of current talks to save the project.
With the Suncor-imposed deadline of June 15 looming, Parsons would only say that no matter what happens, the record will show the government pulled every lever in its efforts to save the Terra Nova project.
Related Story:
May 27, 2021 – Future of Terra Nova Looks Grim, Decision on Whether or Not to Abandon Project Coming Mid-June
