Premier Dwight Ball and federal cabinet minister Seamus O’Regan have some big news coming about Atlantic Accord negotiations.
A press conference has been scheduled for 6 p.m. at the Sheraton Hotel in St. John’s.
The negotiations centered around royalties for the province’s offshore oil and gas revenues. The federal government and the province have been negotiating exactly how much of those offshore revenues flow to this province or flow to Ottawa.
The review has been on-going since the premier wrote a letter in February 2018 calling for a review of the agreement.
In 2005, the province and Ottawa came to an agreement worth $2.6 billion for the province – leading to the famous “We got it” moment from then-premier Danny Williams.
Premier Ball has been hesitant to put a dollar figure on the value of the agreement for this province. Details will be made known at this evening’s press conference.
More to come.