QUEBEC CITY -- The Legault government has no intention of being generous with oil and gas companies that have invested in Quebec's hydrocarbon potential, it says.
The government recently announced that it will ban exploration and development activities in the Quebec hydrocarbons field, but companies will be able to demand compensation for expenses incurred or revenues they will have to forgo.
"I want to give as little compensation as possible," said the premier, while refusing to specify on what criteria they would be compensated.
Québec Solidaire (QS), the Parti Québécois (PQ) and environmental groups are demanding that no compensation be paid to the companies.
The oil and gas companies in question hold permits, have incurred expenses and were anticipating revenues that they will have to forego when Quebec officially bans oil and gas development.
As the regulatory framework changes along the way, companies are entitled to claim compensation, Legault acknowledged.
In addition, as his government works to attract investors, we must not send the message that Quebec is a "banana republic," he continued, meaning a state where investments are risky.
"We have to make sure it's done properly," said Legault. He declined to say whether compensation would be paid for expenses incurred.
"That's part of the discussions with the lawyers," he said.
This report by The Canadian Press was first published in French on Dec. 10, 2021.
