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.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY is proudly celebrating 150 years in Canada. For more information, please visit ey.com/ca. Follow us on Twitter @EYCanada.

EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

SOURCE EY (Ernst & Young)

For further information: Erika Bennett, erika.bennett@ca.ey.com, 403 206 5157; Julie Fournier, julie.fournier@ca.ey.com, 514 874 4308; Sasha Anopina, sasha.anopina@ca.ey.com, 416 943 2637


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