Canadian Business Journal, Questerre comments on potential LNG exports from eastern Canada

This news release is not intended for dissemination or distribution in the United States To U.S. Newswire Services or U.S. Affiliates

CALGARY, Alberta, August 24, 2022 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Qesterre” or the “Company”) (TSX, OSE:QEC) today announced the Prime Minister of Canada’s recent comments on the potential of LNG. Reported. Export from Eastern Canada to Europe. The comments were made during the German Chancellor’s visit to Canada from August 21 to his August 23, 2022.

President and Chief Executive Officer Michael Binion commented: Germany and Europe’s current energy crises are expected to worsen this winter, and it’s heartening to hear how Canada wants to help. And Canada can too. We are your trusted partner, the best partner in the world to produce the highest standard of reliable energy in the world with low emissions. “

“The prime minister also noted that the business case for LNG exports from Canada’s east coast may be hampered by its distance from gas fields in western Canada. Questerre’s project in Quebec addresses this issue. Our proven discovery is within 10 kilometers of our LNG export project with permits in Becancourt and tidal access to Europe.As a producer of natural gas, we can deliver directly to the export facility. This eliminates the risk of ensuring adequate and reliable supply to meet long-term supply contracts.The company previously made final investment decisions, backed by independent reports, to advance natural gas production. business case has been established.”

Geographically, Quebec is ideally located to supply Germany with LNG. The port of Quebec is half the distance to the German port of Hamburg compared to his LNG export terminal in Qatar and more than 500 miles closer than his Cove Point LNG facility in Maryland on the east coast of the United States.

He added, “We share the view of the Government of Canada that hydrogen represents a huge opportunity in the long term. By eliminating emissions from production and using new carbon technologies, this clean gas can be used to produce zero-emission hydrogen and ammonia for export, which the G7, including Canada and Germany, can contribute to. It is in line with the new hydrogen agreement that countries signed earlier this year.”

Kestaire is seeking Bill 21, Act primarily to stop the exploration and production of petroleum and public funding of those activities, unilaterally terminates license agreements in Quebec found to be illegal and unconstitutional. We oppose revocation of the license agreement and seek just compensation for the value of the license agreement, including material discoveries.

Questerre is an energy technology and innovation company. We are leveraging expertise gained from early exposure to low-permeability reservoirs to obtain critical high-quality resources. We believe we can successfully transition our energy portfolio. New clean technologies and innovations for responsibly producing and using energy allow us to sustain both human progress and the natural environment.

Questerre believes that the future success of the oil and gas industry depends on a balance between the economy, the environment and society. We are committed to transparency and respect that the public must participate in making important choices for our energy future.

Recommendations Regarding Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements or information (“forward-looking statements”), including our views on the project to supply LNG to Europe; This includes plans to hold Bill 21 illegal and unconstitutional, and plans to oppose it. I agree to cancel the license agreements and seek fair compensation for the value of these agreements.

Forward-looking statements are based on Questerre’s several important factors, expectations or assumptions used in preparing such statements and information that may prove to be incorrect. there is. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, Questerre cannot give any assurance that these statements will prove to be correct and undue reliance should not be placed on them. . Forward-looking statements address future events or circumstances and, therefore, are inherently subject to risks and uncertainties. In addition, events and circumstances could cause actual results to differ materially from those projected. It is the result of a number of known and unknown risks, uncertainties and other factors, many of which are beyond our control. Other specific risks detailed from time to time in Bill 21 by the Government of Quebec and Questerre’s public documents. Additional information regarding some of these risks, expectations, assumptions and other factors is available on the Company’s Annual Information Form for the year ended December 31, 2021 and in the company profile at Other documentation available. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questel may publicly update any forward-looking statements as a result of new information, future events or otherwise. or shall not be obliged to correct. Applicable Securities Laws.

CBJ Newsmaker

Canadian Business Journal, Questerre comments on potential LNG exports from eastern Canada

Source link Canadian Business Journal, Questerre comments on potential LNG exports from eastern Canada

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