Premier Legault makes an historic error. Now he must ensure fair compensation for expropriated oil and gas companies 

Fair compensation for expropriated companies

“While we strongly disagree with the Premier’s decision and think it’s very bad for Quebec, we now expect the Government of Quebec to act fairly and to quickly compensate, at fair market value, the expropriated companies that held rights in Quebec. Expropriation without fair compensation would have devastating effects on Quebec’s reputation with international investors whose capital is essential to Quebec’s economic development. It would also be contrary to Quebec legislation, which presupposes a compensation at a minimum of fair market value in the event of expropriation. How could it be otherwise? How could anyone whose business or house has been expropriated not be offered at least fair market value compensation by the government?” finally declared Mr. Lévesque.

About Utica Resources

Utica Resources is a Quebec company whose mission is to participate in the energy transition currently underway by developing a diversified portfolio that includes, in addition to light oil and natural gas, renewable energy projects such as hydrogen and CO2 storage. All our projects are carried out with a view to sustainable development, optimal use of available resources, respect for host communities and maximization of local economic benefits.

SOURCE Ressources Utica

For further information: Utica Resources, Mr. Mario Lévesque, President and Chief Executive Officer, admin@utica-resources.com