$24 million earmarked for offshore greenhouse gas reduction research

ST. JOHN'S - The federal government is spending $24.4 million to investigate ways to reduce greenhouse gas emissions in Newfoundland and Labrador's oil and gas industry.

A total of 16 projects are getting money from Natural Resources Canada, said a May 5 release from Petroleum Research Newfoundland and Labrador (PRNL) — the group managing the fund.

Funded projects will research carbon capture, energy efficiency, transportation and renewable energy technology.

Half of the projects will examine developing new technology or determining how to adapt existing technology to reduce emissions from offshore facilities.

Other projects will fund studies intended to fill what PRNL said are "knowledge gaps" for Newfoundland and Labrador offshore emissions reductions.

PRNL CEO Dave Finn said the funding is crucial for the sustainable growth of the province's offshore industry.

“The oil and gas industry plays an integral role in Newfoundland and Labrador's economy and society, and we believe we can safely and sustainably develop our resources," Finn said in the news release.