Mackenzie Gas Project to create more jobs

Approval of the Mackenzie Gas Project is being welcomed by the territorial government in Yukon, which says if the $16.2-billion project goes ahead, it would provide jobs and a portal to ship Yukon gas to market. Climate change is opening up this region, which holds an estimated 25 percent of the world’s remaining oil and gas, according to the U.S. Geological Survey.

One principal question mark in this ballyhooed rush north has been the doubts of environmentalists, who note that in the case of a spill, the Gulf of Mexico would be child’s play compared with the Arctic, where spills dissipate far less easily and cleanup efforts are far more difficult than they are on the Louisiana coast.

The National Insurance Commission (NAICOM) will today release the guidelines to regulate the underwriting of oil and gas insurance. In a statement, the Senior Manager, Corporate Affairs, NAICOM, Mr ‘Salami ‘Rasaaq Obomeile, said the guidelines will help regulate oil and gas business and develop the local market.

Jude    Maritime News     Arctic development, Department of Energy, Insurance Act 2003, Mackenzie Gas Project, Mackenzie pipeline, Mines and Resources, more jobs, NAICOM, National Insurance Commission, Oil and Gas Industry Content Development Act 2010, oil and gas resources, U.S. Geological Survey

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