ST JOHN’S, NL – Canadian Prime Minister Mark Carney visited Newfoundland for the first time since the election to make an announcement at the NewDock shipyard . The announcement was about $80 million of federal money flowing in the Atlantic Canada Opportunities Agency (ACOA) to provide relief for businesses hurt by US tariffs and global trade wars.
“This funding will help equip Atlantic Canadian industries with the tools they need to respond to modern challenges. To innovate. To modernize. To expand operations and customer bases. To take full advantage of new opportunities,” said Carney on a finger pier in the west end of the harbour.
What was of more interest to Newfoundland and Labrador was what seemed to be Carney’s interest in the stalled Bay du Nord deep water offshore oil project and the further development of Churchill Falls and a future Gull Island hydro electric projects in Labrador and the partnership between Quebec and Newfoundland and Labrador.
Speaking to reporters, Energy NL CEO Charlene Johnson said she spoke at length with Carney about the need for offshore oil production to continue — especially at Bay du Nord.
The project has been on hold since 2023, but Equinor said as of June it was aiming to start production in 2031.
Johnson said discussions have to continue to make sure Newfoundland and Labrador can become the primary beneficiary.
“This oil is in Newfoundland and Labrador, this needs to an Newfoundlander and Labradorian project,” said Johnson.
Newfoundland and Labrador Premier John Hogan’s Liberal government were happy to hear this as they are about to call a provincial election where a contract with Hydro Quebec could be the ballot question. Support from the Prime Minister can’t hurt.
A Memorandum of Understanding by Quebec Premier Francois Legault and former NL Premier Andrew Fury and ongoing negotiations are facing organized opposition from the Progressive Conservative opposition party, former politicians, businessmen and bureaucrats who failed over the past decades to secure new contracts and remediation of a lopsided 1969 Churchill Falls power agreement with Quebec. Leading the charge is former PC premier Danny Williams who is famous for his fights Quebec and Ottawa over Churchill Falls hydro contracts and architect of the white elephant Muskrat Falls hydro project that left Newfoundland and Labrador more than $16 billion in debt.
Carney’s government will table its first federal budget in October and Hogan faces the ballot box. Carney has a minority government and Hogan’s polling numbers don’t make a win for his a sure thing.
The gathering on the wharf was about cooperation between the feds and the province and helping the team out.
