The Lowlands are situated in Quebec, south of the St. Lawrence River between Montreal and Quebec City. Building a circular economy on a significant discovery on Quebec Utica could result in the second lowest supply gas cost in North America.
The Company continues to seek opportunities to work with the Government of Quebec to advance its Clean Tech Energy Project. It is also protecting its legal rights following the enactment of Bill 21, An Act mainly to end petroleum exploration and production and the public financing of those activities (“Bill 21”).
At a case management conference related to Bill 21 held in June, the Justice agreed to defer a hearing on the Attorney General of Quebec’s summary motion to dismiss the claims by Questerre and other license holders until the hearing on the merits of the case to be scheduled next year. The Justice also accepted the Government’s undertaking to suspend any enforcement actions until the next hearing scheduled for October of this year.
Questerre presented the Quebec Ministry of Economy, Innovation and Energy with its plans for a carbon storage test. This follows their request for proposals for pilot projects that would foster the energy transition and attain targets in the fight against climate change. Originally submitted in the fall of 2021, the operation will consist primarily of an injectivity test to gather data on the safe rate of injection. The Company identified the storage formation underlying its licenses after studying its proprietary seismic and well data.
Implementing a full cycle near zero-emissions, as seen below, with the growing support from the Frist Nations, local town, communities and farmers has Questerre on target for our energy transformation to near zero-emission Clean gas production.