Overview
- Prime Minister Mark Carney said Equinor’s Bay du Nord oil project and a Hydro‑Québec–Newfoundland and Labrador Hydro energy arrangement should be considered for accelerated “nation‑building” approvals.
- He announced $80 million from a $1‑billion tariff‑relief fund for Atlantic Canada, to be delivered by the Atlantic Canada Opportunities Agency to sectors including seafood, manufacturing and technology.
- Bay du Nord retains federal environmental approval granted in 2022, but Equinor put the project on hold in 2023 for up to three years to seek affordability improvements.
- A draft Churchill Falls arrangement is reported at about $33.8 billion over 50 years with plans to partner on new Churchill River developments, and the provincial Progressive Conservatives are calling for an independent third‑party review.
- Carney said the federal government is working through compensation for people who lost homes to recent wildfires and would not specify pending changes to climate targets, saying more details are coming in the weeks ahead.