Statement from the Board of Trade: Bay du Nord Announcement

“We welcome yesterday’s announcement on the Bay du Nord project—it sends a clear signal that Newfoundland and Labrador is open for investment and reinforces the important role our province’s oil and gas industry will continue to play both nationally and globally. We have been clear and consistent in our support of this project, and of future developments that grow our economy and strengthen our business community.

We commend all parties involved in making this possible and recognize the thousands of individuals and businesses who will directly and indirectly benefit from the jobs and economic activity it will generate. As this project progresses, it will be critical that the revenues created are managed responsibly to strengthen our fiscal position, reduce debt, and help build long-term prosperity for our province.

We look forward to seeing the continued advancement of Bay du Nord through its next phases and toward a final investment decision in Q1 2027.” – AnnMarie Boudreau, CEO, Board of Trade