Annu Al Repor T 2018

ANNUAL REPORT 2018 OVERVIEW As a member-led Association, The Maritimes Energy Association is The Maritimes Energy Association provides: an independent, not-for-profit industry DAILY ENERGY BULLETIN Association, representing companies that provide Members receive a daily e-bulletin that provides the latest procurement information, as well as energy news goods and services to the energy industry in stories of importance to the industry- Regionally, Nationally and Internationally. In addition to news stories, eastern Canada. the Energy Bulletin keeps members up to date on the latest Association events, industry events and Since its inception 36 years ago, general news releases. Members are also encouraged to use the Energy Bulletin to publish their own this Association has broadened its procurement needs and to capture their public news releases and/or announcements. operational mandate to embrace the full spectrum of the energy sector. CORE ENERGY CONFERENCE Unlike any other organization of The Association hosts the Core Energy Conference in Halifax during the early Fall. This is its kind in Canada, The Maritimes an annual gathering of decision makers and experts in the energy industry. It is the only Energy Association incorporates conference in Eastern Canada to encompass the complete energy industry - offshore onshore and offshore, cleantech and onshore, renewable/cleantech and non-renewable, domestic and export markets. renewable and non-renewable, domestic and export markets. TRADE MISSIONS Complementing this is our new Through cooperation and collaboration with provincial and federal governments, we partnership with the Canada organize and facilitate trade missions to various international locations to facilitate Cleantech Alliance. We are the growth and development of our members growing export opportunities and unique and integrated, like the to encourage strategic partnerships which may attract direct investment in the industry we seek to promote! Maritimes. Matchmaking services are usually included in such missions, thus introducing our local companies to a global market. Our Membership provides products and services to energy WORKSHOP, SEMINARS producers in our regional market and AND INDUSTRY FORUMS beyond. In addition to organic growth, We organize industry briefings, workshops, forums and supplier sessions throughout new energy development projects provide the year where guest speakers present on current procurement opportunities and exciting opportunities for the companies other topics of interest to the industry. These are excellent networking and business that make up our membership, and in turn, the development opportunities for our members. thousands of people they employ. Energy related activities inject millions of dollars into our regional INDUSTRIAL POLICY AND ADVOCACY economy annually. The Association advocates for the interests of the energy industry. It is a voice for its member companies to reach governments, regulatory authorities, and Our Purpose is to identify, promote and support the the broader energy industry. The Association adopts policies that are in the best development of business opportunities for our member companies. interest of the energy industry in general, and communicates these views to the We accomplish this through strong industry advocacy, networking services, aforementioned groups. It participates on a regular basis in formal and informal supplier forums, information sessions and international trade missions. discussions with governing representatives and policy makers on matters that are important to the industry. 1 2 Table of Contents A Message from the Chair .........................................................................................................5 Board of Directors ......................................................................................................................7 Outgoing Board Members ........................................................................................................8 Staff of The Maritimes Energy Association..............................................................................8 Committees of the Board ..........................................................................................................9 Industry & Member Highlights ...............................................................................................10 Membership Report .................................................................................................................25 Events Report ............................................................................................................................25 Trade Missions Report ..............................................................................................................37 Association Activities ...............................................................................................................38 Appendix Current Active Leases and Licenses, NB. – Appendix A .................................42 Current Onshore Oil & Gas Agreements, NS. – Appendix B .........................43 Current Active Exploration Licenses, NS. – Appendix C .................................43 The Maritimes Energy Association Financial Statements – Appendix D ......44 Visit prostatecancer.ca to learn more 3 4 The following report captures The Maritimes Energy Association fiscal year from November 1st, 2017 to October 31st 2018 Message from the Chair As the outgoing chair, I’m extremely proud of all that the Association has accomplished in 2018. Despite identify issues, obtain guidance and mobilize for change. CanadaCleantech and The Maritimes Energy Association are working to having its first operating deficit in recent years, the Association has continued to support and promote position Canada at the forefront of the global low carbon economy, enabling it to capitalize on future opportunities. member companies. In 2018, incremental wind projects were primarily introduced in New Brunswick with Nova Scotia opportunities remaining limited Our Association hosted over 1000 members and industry stakeholders across 10 major networking at this point. The Emera Maritime Link went into service in January 2018, connecting the island of Newfoundland to the North events, webinars and information forums. As always, we maintained focus on bringing our members American energy grid and electricity markets for the first time in history. Following a successful deployment of their turbine in crucial information and identifying what these changes and opportunities mean to the industry and the July, Cape Sharp Tidal,and their parent Naval Energies, announced an end to further investment in in-stream tidal and placed membership going forward. OpenHydro in immediate liquidation. It has been a challenging year for the Canadian oil and gas industry. The lack of sufficient market access and increasing burden The inherently complex energy world that we now live in has led to the establishment of numerous small not-for-profit of regulatory uncertainty are reducing our competitiveness. The oil & gas industry in Nova Scotia and the Maritimes is also at a organizations, like The Maritimes Energy Association, operating in the Maritimes and Atlantic Canada. We believe that it will crossroads -both offshore and onshore. With respect to the offshore industry, the results of two separate recent drilling programs, be difficult for industry and government to support all of these organizations in the future and as such, the status quo is not by Shell Canada and BP Canada, are now complete and show no evidence of commercial discoveries present. Additionally, the sustainable. The Maritimes Energy Association has invited various stakeholders to develop a more coordinated and effective decommissioning of the Sable Offshore Energy and Deep Panuke projects are now well underway. Any near-term upside rests solution that can better represent not only our Region, but all industry stakeholders and organizations. with Equinor’s (previously Statoil) commitment to explore two (2) parcels of land over nine (9) years and potentially any positive submissions being picked up in the latest CNSOPB Call for Bids NS 18-3 released on December 10th, 2018. With respect to the The Maritimes Energy Association wants to help you to create sustainable energy jobs and robust economic activity right here in the onshore Maritimes oil & gas industry, with the exception of Corridor Resources and East Coast Energy, there is not one – for now. Region. A key component of this will be Canada’s Ocean Supercluster. This industry-led collaboration was established to help build Canada’s ocean economy into one ofthe country’s most significant and sustainable value-creating economic segments.We must The Nova Scotia Department of Energy and Mines released its Petroleum Atlas Report in January 2018, which showed $60 Billion all work together to ensure that projects are done in the safest and most environmentally responsible way possible, regardless of in potential onshore natural gas reserves. In the meantime, a ban is in place preventing the use of development employing whether they are in the oil & gas, renewable, or cleantech sectors. hydraulic fracturing. In New Brunswick, where more potential is evident, the new provincial government has taken steps to remove the moratorium in place on hydraulic fracturing for the Sussex area. In the short-term, Maritimes natural gas customers will 2017/18 was an evolutionary year for the Association and

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