CETA to bring good tidings for Atlantic Canada, says EY

Latest issue of East Coast Offshore available now

ST. JOHN'S, June 30, 2015 /CNW/ - While the oil and gas industry is dealing with crude price challenges, good things are on the horizon for the industry in Atlantic Canada, says EY in the latest edition of East Coast Offshore.

According to the report, optimistic estimates place ratification of the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union in 2016, which could mean that legislation respecting CETA commitments could be in play by late 2016 or early 2017. With current trade patterns bolstered by liberalization, a new, more efficient, borderless and integrated North Atlantic offshore industry is on its way to becoming a reality.

The report also highlights emerging legislative, regulatory and competitive issues affecting Atlantic Canada's oil and gas industry. In this edition you'll find sections on topics such as:

• Impact of low oil prices on drillers
• New exploration and development
• Project economics

EY's Canadian oil and gas team is available to offer more insight into the report's findings. To reach a spokesperson, or for more information, please contact a member of our national PR team.

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SOURCE EY (Ernst & Young)

Erika Bennett, [email protected], 403 206 5157; Julie Fournier, [email protected], 514 874 4308; Sasha Anopina, [email protected], 416 943 2637