Build on Offshore Opportunity

Rather than hold out for "the mythical sweeter deal," the Nova Scotia government chose to seize the offshore gas opportunity and build on it, Premier Russell MacLellan told the Metropolitan Halifax Chamber of Commerce today.

"Had this province held out for more -- for the mythical sweeter deal -- there would be no deal and the offshore opportunity would be lost for another generation," the premier said in the annual State of the Province address.

Instead, today there are 2,000 people working on the Sable project; gas will flow to every county in Nova Scotia within seven years, and Nova Scotians will enjoy a 20 per cent discount on gas distribution costs for the first 10 years of the project.

"We've been talking about this development for generations. Now it is just months away," the premier said. "Yet, we are told, you are told, all Nova Scotians are told repeatedly, that our deal is not good enough.

"Those who demand more from the Sable project would erect an insurmountable obstacle to that pivotal, inaugural development. They would kill the deal and, with it, the promise of the offshore."

He said the $3-billion Sable project is only the beginning of offshore gas development, representing less than 20 per cent of known recoverable gas and oil reserves.

"Your government chose to seize the offshore opportunity and build on it --build on it by opening the door to even greater opportunities that will accompany developments beyond Sable, build on it by capturing the ability to process natural gas liquids here in Nova Scotia, build on it by making a new, indigenous energy source available to Nova Scotians in every part of our province."