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NEIA partners on event to explore sustainability within Newfoundland and Labrador’s offshore oil and gas industry

For Immediate Release
February 6, 2020

ST. JOHN’S (NL) – The Newfoundland and Labrador Environmental Industry Association (NEIA), in partnership with Noia and the Canadian Association of Petroleum Producers (CAPP), held a workshop on Tuesday exploring international sustainability trends in the offshore oil and gas industry – and what they mean for the industry in this province.

“We know that the oil and gas industry is vital to Newfoundland and Labrador’s economy,” said Hanley. “It has driven exceptional research, development, and commercialization of technologies – providing for enormous business growth opportunities within the environmental sector, among many others.”

“But as the global urgency to curb climate change intensifies, as does the public pressure on the oil and gas industry to take action.” Hanley says that the trend is not going anywhere, and that in the months, years, and decades ahead it is only going to become more prevalent.

“This is a challenge for the industry, and our province – but it is also an opportunity,” said Hanley, noting that the world is going to increasingly demand a cleaner barrel of oil. “We are in a good position – from a greenhouse gas perspective we are performing relatively well – but we need to make a concerted effort to make sure that this remains the case into the long term.”

Hanley said this opens the door to the development and application of clean technology products and services within the industry that help improve its performance from an environmental perspective. “This is an opportunity for the growth and diversification of our supply chain here in Newfoundland and Labrador.”

Tuesday’s workshop included presentations from two world-class speakers in Peter Tertzakian (Executive Director of the ARC Energy Research Institute) and Gareth Wynn (Stakeholder and Communications Director with OGUK). “We heard two important messages from these speakers,” said Hanley.

Peter Terzakian, Executive Director of the ARC Energy Research Institute

“First, the oil and gas industry has a crucial role to play in reducing global greenhouse gas emissions – and those jurisdictions that excel in this regard will gain a competitive advantage.” Hanley noted that with global demand and supply both continuing to trend upwards, the industry must be viewed as part of the solution.

“Second, we can learn from other jurisdictions as we work to balance the oil and gas industry and environment here in Newfoundland and Labrador.” OGUK presented on the work the industry undertook in the UK to develop a plan to help it reach net-zero emissions by 2050. ”We need to work together to ensure we can continue to compete as the world moves to cleaner energy,” said Hanley.

Hanley said he hopes the workshop was just the beginning of the sustainability discussion within Newfoundland and Labrador’s oil and gas industry. “This is a very important pursuit in the interest of both the province’s economy and environment,” he said. “If we can continue to have evidence-based and forward-thinking discourse between stakeholders – there is much that we can accomplish together.”

NEIA is a not-for-profit association of businesses that promotes the development of clean technology and the growth of the green economy in Newfoundland and Labrador. NEIA has over 200 members. More information can be found at https://neia.org.

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Media Contact:
Kieran Hanley
709.237.8190
kieran@neia.org

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