Sussex-area fracking plans shelved over ‘regulatory uncertainty’ | CBC News
back a multimillion-dollar plan to frack for natural gas near Sussex,
citing “regulatory uncertainty” in New Brunswick.
The provincial
government recently took steps to partially lift a moratorium on
hydraulic fracturing, a controversial process that breaks shale deposits
to extract gas.
But
the Halifax-based company says the provincial government has advised
it’s “unable to consider applications for an exemption to the moratorium
as they undertake a consultation process with the New Brunswick First
Nations.”
The company made the announcement in a quarterly financial update to investors Monday.
“Due
to the regulatory uncertainty in New Brunswick, in particular when or
if Corridor’s lands will become exempt from the moratorium, Corridor is
and has been limited in its ability to market the Frederick Brook Shale
prospect to potential joint venture partners,” the company said in a
news release.