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ARTICLE · 07 AUGUST 2023

Bill C-49: Proposed Changes To Energy Regulation For The Atlantic Offshore

Osler, Hoskin & Harcourt LLP
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On May 30, 2023, the House of Commons completed the first reading of Bill C-49. If enacted, Bill C-49 will amend the Canada-Newfoundland and Labrador Atlantic Accord Implementation Act...

CanadaEnergy and Natural Resources
Simon Baines
Simon Baines
Sander Duncanson
Sander Duncanson
Logan Aitken
Logan Aitken
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On May 30, 2023, the House of Commons completed the first reading of Bill C-49.1 If enacted, Bill C-49 will amend the Canada-Newfoundland and Labrador Atlantic Accord Implementation Act2 and the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act3 (collectively, the Accord Acts). Currently, the Accord Acts govern joint offshore petroleum resource management and revenue sharing between the federal government and the governments of Newfoundland and Labrador and Nova Scotia, respectively.

Bill C-49 seeks to establish a new regulatory regime for renewable energy projects offshore Newfoundland and Labrador and Nova Scotia. These offshore renewable energy projects would include the exploitation, storage, transmission and related research and assessment of renewable resources, with Bill C-49 focusing on offshore wind, hydrogen and green ammonia.4

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