Georges Bank Moratorium Extended

The Georges Bank moratorium has been extended until Dec. 31, 2012, according to Ralph Goodale, Minister of Natural Resources Canada, and Gordon Balser, Minister responsible for the Nova Scotia Petroleum Directorate.

The ministers are accepting the recommendation released earlier this year by the Georges Bank Panel report to extend the existing moratorium. The moratorium on petroleum exploration and drilling on Georges Bank came into effect in Canada in 1988, with the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Acts (Accord Acts). Georges Bank is one of the most productive fishing grounds in the world, and the governments want to ensure that drilling would not negatively impact the area.

"The process had done its job, and now we must do ours, which is to protect an environmental and economic asset for Nova Scotians," said Mr. Balser. "Now we have to come together to improve understanding between the fishery and the petroleum sectors, which both offer so much promise for the future. Georges Bank is unique and so was the action taken, but the growing interest in natural gas development requires a cooperative and respectful approach. The voice of traditional industries must be heard. We want to accommodate, not replace one industry for another."

"Our decision to extend the exploration moratorium on Georges Bank was based on the panel's extensive public consultations, its review, and its final recommendation," said Mr. Goodale.

The federal and provincial ministers responsible for natural resources appointed an independent panel in December 1995, as called for in the Accord Acts. The panel conducted a public review of the environmental and socio-economic impact of exploration and drilling on the Bank, and recommended the extension of the moratorium. The moratorium was scheduled to expire on Jan. 1, 2000.

The Georges Bank Panel was made up of John Mullally, chair and retired public servant from the natural resources sector, Susan Holtz, a private consultant specializing in research and implementation projects in energy, environment, and sustainable development, and Dr. Ron Loucks, President of R.H. Loucks Oceanology Limited.

Public hearings were held in Yarmouth, Shelburne, Lunenberg and Halifax. Members of the public and representatives from the petroleum industry, fishing associations, business organizations, environmental groups and municipal, provincial and federal governments made presentations to the panel.