With its Future Uncertain, Province Has Done Everything it Can for Terra Nova Project: Premier (Details)

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With its Future Uncertain, Province Has Done Everything it Can for Terra Nova Project: Premier

Premier Andrew Furey says the province has done everything it can to ensure the future of the Terra Nova project, but the decision to proceed is ultimately up to the project’s partners.

All partners need to be aligned on whether or not to proceed, and Suncor CEO Mark Little this week indicated that an alignment is growing increasingly unlikely.

A decision on possible abandonment is set for June 15th.

Premier Furey says the province will continue to be at the table, noting that they have a healthy and respectable offer of financial assistance on the table. That’s a reference to the $175-million from the federal oil fund. However, Furey says the companies involved in the project continue to turn profits, which shouldn’t be forgotten when they are looking for help in extending the life of the project.

He says he’s not going to jeopardize the province’s fiscal situation.

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