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Quebec and Newfoundland and Labrador are nearing a new agreement to replace the controversial 1969 Churchill Falls contract, according to sources. While details remain confidential, officials confirm progress has been made on resolving outstanding issues. The deal would address the development of Churchill Falls and Gull Island, a hydroelectric project on the Churchill River. A spokesperson for Newfoundland's premier stated no formal agreement has been signed yet, though negotiations have advanced significantly. Quebec's premier has not confirmed the deal, highlighting the political sensitivity of the issue. The agreement comes after a committee reviewed the previous Memorandum of Understanding (MOU) and deemed it not in the public interest. Opposition parties are urging transparency, as media reports suggest a new deal has been reached. The negotiations follow a meeting between the premiers in Prince Edward Island, with both sides aiming to finalize the agreement by early next week. The deal's success could impact energy development and regional economic interests.