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Update on the Draft Financial Viability and Financial Responsibility Guidelines

Update on the Draft Financial Viability and Financial Responsibility Guidelines [PDF 84 KB]

UPDATE: 2013-11-26

File OF-EP-Gen-AODR 0301
25 November 2013

To: Interested Persons

Draft Financial Viability and Financial Responsibility Guidelines

During engagement with Northerners, environmental groups, industry and other stakeholders the National Energy Board (NEB or the Board) has heard that additional clarity was sought on Financial Responsibility requirements for all NEB-authorized activities and regions covered by the Canada Oil and Gas Operations Act (COGOA).

In response, the Board developed Draft Financial Viability and Financial Responsibility Guidelines (Draft Guidelines). The Draft Guidelines were released for public engagement in May 2013, with a comment period that closed October 31, 2013.

The Board would like to thank those persons who provided comments, both through letters and in person. All comments are currently being reviewed and will be carefully considered in developing the Guidelines. The Board will conduct further discussions with persons who have provided comments on the Draft Guidelines.

The Board anticipates releasing revised Guidelines in the spring of 2014. Until this release, the Board will not use the Draft Guidelines to consider applications for financial responsibility or financial viability nor will applicants be expected to rely on the Draft Guidelines to prepare filings with the Board. Applicants are still expected to demonstrate financial responsibility for spills and debris pursuant to section 27 of COGOA and these applications will be determined on a case-by-case basis. Applicants may request a Pre-Application Meeting with NEB Staff to seek guidance on matters related to financial responsibility.

The Draft Guidelines, responses to frequently asked questions, and all letters received within the comment period, are available on the Board’s website (www.neb-one.gc.ca) and hard copies may be requested by calling the NEB at 1-800-899-1265.

Yours truly,

Sheri Young
Secretary of the Board

RELATED DOCUMENTS:

  1. Comments received on Draft Guidelines
  2. Draft Financial Viability and Financial Responsibility Guidelines
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