CALGARY, Alberta, June 06, 2018 (GLOBE NEWSWIRE) – Questerre Energy Corporation (“Questerre” or the “Company”) (OSE:QEC) (TSX:QEC) reported today on the draft hydrocarbon regulations published by the Government of Quebec.
The Government of Quebec announced new regulations with a 45-day consultation period. If implemented, these regulations would have the effect of banning hydraulic fracturing and any meaningful exploitation of natural gas in Quebec. The press release is available at: http://www.fil-information.gouv.qc.ca/Pages/Article.aspx?aiguillage=ajd&type=1&idArticle=2606062523&lang=en.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Questerre condemns the decision today by the Government of Quebec to capitulate to a vocal minority that are seeking to both block the progress on our global environment and the growth of Quebec’s economy. This decision is motivated solely by short-term politics around the upcoming election.”
He added, “This decision makes no sense from the point of view of the proven science of modern natural gas development, the economy or the will of the majority of Quebecers.”
This announcement is contrary to the science validated by the most comprehensive environmental study of oil and gas development in Canada conducted by the Government of Quebec over four years. It included over 134 independent studies by Quebec scientists. These studies showed there is no link between hydraulic fracturing of natural gas wells and drinking water. Modern natural gas development has been shown by scientific study and by millions of wells to be safe for the environment.
Mr. Binnion further added, “The decision is contrary to the objectives of the Government’s own energy policy adopted after more than a year of public consultation. Local natural gas production will reduce global emissions while providing significant economic benefits including well-paying jobs in Quebec. This is an opportunity for many small towns who want development and to share in the economic benefits.”
The Quebec Oil and Gas Association released today a poll showing 60% of Quebecers support local natural gas development and a pilot project while only 22% of Quebecers are opposed. Mr. Binnion noted, “We have been told for years we need social acceptability. When a strong majority of Quebecers support modern natural gas development that is cheaper, cleaner, more reliable, and better for the economy, we can’t be too far away.” A copy of the poll is available at: https://www.ipsos.com/fr-ca/news-polls/la-production-de-gaz-naturel-au-quebec.
He further noted, “The Quebec government is out of step with the rest of the world on natural gas development. A new generation of natural gas exploitation would see 100% recycled water, biodegradable additives and zero emission from production. Quebec could choose to be the world leader in this new generation of clean gas.”
The Company will be providing detailed feedback to the Government during the consultation process.
