Mr. Speaker, we have reached a crucial milestone with the Mackenzie Gas Project.
On December 30, 2009, the Joint Review Panel released its long awaited report assessing the environmental and social impacts of the MGP.
What I will talk about today is what this government is doing, and has done, to ensure our work on this project is timely and efficient. And I will talk about the potential benefits this proposed project, if done in an environmentally and socially responsible manner, could bring to the Northwest Territories and to Canada. But I am not here today to focus on this report and the response our government is preparing, since the lead department for this is Environment and Natural Resources.
Mr. Speaker, the GNWT was prepared for this report upon its release and we were able to start working on it right away. This government has dedicated significant resources to prepare a response to the report, and we are committed to delivering that response in a timely manner in accordance with the June 2002 cooperation plan. We also await the National Energy Board’s decisions on this project, which is expected by the end of this year.
Mr. Speaker, we do not know what that decision will be regarding the Mackenzie Gas Project. But if it does proceed – and, again, I stress it will only proceed if it can be done in an environmentally and socially responsible manner -- it will provide economic opportunities, lead to infrastructure development, and has the potential to provide a brighter future for the people of the Northwest Territories for generations to come.
It will also offer opportunities for economic diversification, as many of our communities may have access to a secure supply of clean and affordable natural gas.
Aboriginal people of the Northwest Territories in particular, through direct ownership of the pipeline through the Aboriginal Pipeline Group, stand on the cusp of an unprecedented era of sustained prosperity and growth.
Mr. Speaker, the Mackenzie Gas Project will also create jobs, much needed jobs, not just for the Northwest Territories but for the entire country. These jobs will help the Canadian economy recover from the recession that has gripped it for the past two years. The establishment of a related economic activity in the NWT will sustain that recovery for decades.
The project can also help in the fight against climate change, by increasing the continental supply of natural gas, thereby allowing natural gas to replace dirty coal as the fuel of choice at hundreds of power plants. And our Arctic gas resources will be a critical element in the overall natural gas supply mix, providing a cleaner, more secure energy source for the entire continent.
Mr. Speaker, the federal government also has a large role to play in this process. We understand that the Government of Canada continues in its discussions with the project proponents on fiscal arrangements regarding the Mackenzie Gas Project. We encourage the parties to reach a conclusion as soon as possible on those arrangements.
Mr. Speaker, I would like to conclude my statement by emphasizing once again that done right, the Mackenzie Gas Project presents the Northwest Territories with tremendous opportunities.
The actions we take over the next few years in working to ensure that -- economically, socially and environmentally -- this proposed project benefits the residents of the Northwest Territories, may well be the most significant contribution the 16th Legislative Assembly makes in meeting its vision of a thriving, strong and economically sustainable Northwest Territories. Thank you, Mr. Speaker.
Thank you, Mr. McLeod. The honourable Minister of Finance, Mr. Miltenberger.
