energy

The energy sector is one of Atlantic Canada's most powerful growth engines. Electricity is a major export, and the region now also boasts North America's fastest growing offshore oil and gas sector. A world-class research and development infrastructure supports this industry's growth. Atlantic Canada has one of North America's most diverse and cost-effective generating systems. With hydro, nuclear, oil, coal, diesel, orimulsion and natural gas powered generating stations, the region boasts among the highest per capita electricity production ratios in the world.

Atlantic Canada's three major oil refineries enjoy access to marine transportation of crude oil and petroleum products. Atlantic refineries produce more than their domestic needs and are geared toward export markets, particularly in northeastern US and Europe. The Irving Oil Refinery in Saint John, NB - Canada's largest refinery - recently underwent a $1-billion upgrade and now exceeds the United States Environmental Protection Agency's new source performance standards for petroleum refineries.

In addition to plentiful energy supply, Atlantic Canada has among the lowest energy costs in the world. According to the 2002 KPMG Competitive Alternative Report, out of the over 100 locations around the world included in the study, three Atlantic Canadian cities placed in the Top 10 for lowest utilities costs.

Atlantic Canada's energy sector is booming. With abundant energy sources, world-class researchers and facilities, excellent business and transportation infrastructure, low business and energy costs, and well-educated workers, the region is a world leader in energy production, export and research.