ST. JOHN'S, N.L. - Premier Danny Williams says Newfoundland and Labrador will seek a 10 per cent ownership stake in all future oil and gas projects.
Williams made the announcement today as he released the province's first long-term energy plan.
The ambitious 35-year plan also commits the province to building a power transmission link between Newfoundland and Labrador, and establishing a so-called "super royalty rate" for offshore natural gas projects.
The new equity demand comes three weeks after Williams stunned his critics by securing a 4.9 per cent equity stake in the proposed Hebron offshore oil project.
The energy plan has been on the drawing board in one form or another since former premier Brian Tobin announced a sweeping energy review in 1998.
The release of the plan comes as Williams prepares for a provincial election set for Oct. 9.
