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Maritimes Energy Sector Shares Optimistic Outlook

Last week, we learned what’s next for Nova Scotia’s energy sector at an event hosted by the Maritimes Energy Association. During the event, a panel of energy and environment leaders from the Government of Nova Scotia shared their message of optimism for our province’s diverse mix of energy resources such as wind, tidal, LNG, and onshore/offshore oil and gas. 

Nova Scotia is blessed with an abundant and diverse supply of natural resources, and through careful and responsible development, the province is responsibly managing these resources for future generations.  
 

Strengthening investment


Nova Scotia continues to make significant investments to better understand the potential of our onshore and offshore oil and gas resources. Advancements in geoscience research – the study of the Earth’s natural systems – are building on the province’s Play Fairway Analysis (PFA) to de-risk investments in further offshore oil and gas exploration. In a nut shell, this means we’re safely and responsibly making Nova Scotia an attractive place to invest for some of the world’s largest energy companies.

We’ve already seen billion dollar investments by Shell and BP to explore our offshore and momentum has stayed strong with companies such as Statoil recently deciding to set up shop in Nova Scotia. It’s clear the government will continue its pursuit to market our province’s outstanding offshore potential, and that’s good news for businesses, residents and the future of our economy.
 

Protecting the environment


Nova Scotia is currently leading the country in the reduction of Green House Gas (GHG) emissions. This is a significant point of pride for our province’s energy sector.

These reductions have been achieved by placing a cap on GHG emissions from electricity. In 2010, the NS government legislated renewable energy targets and more stringent energy efficiency standards. Nova Scotia is the only province with an energy efficiency utility – EfficiencyOne.

It’s obviously worked. Nova Scotia has already achieved its 2020 targets for GHG reductions and is on track to achieve a total reduction of more than 43 per cent by 2030. Senior government employees congratulated Emera and Nova Scotia Power for doing a great job integrating renewable energy into our electricity mix. 
 

Green doesn’t have to be expensive


Besides encouraging significant energy investment, while continuing to become a more environmentally sustainable province, the government is going one step further to develop a cap and trade system – a made-in-Nova Scotia solution that will further reduce GHGs while minimizing the potential impacts on residents’ pocketbooks. 

There are plans underway to actively engage industry on the development of our cap and trade system and we will update this important news as more information becomes available.

As a communicator with a keen interest in growing our region’s energy sector, I find this very encouraging and look forward to learning more and sharing this exciting information to make it easy for you to understand and participate in future conversations. 

NATIONAL’s Atlantic team has been seizing opportunities to share moments of optimism and momentum in our region and we encourage others to do the same by posting with the hashtag #WhatsNextNS.

Nova Scotia’s energy sector is ready to play a big role for #WhatsNextNS. Tell us about other great stories poised to make our province the best place to work, live and play.

 

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Karen White is a Director at NATIONAL’s Halifax office. You can reach her at kwhite@national.ca or by phone at (902) 223-2782.